Jabil, Inc. (NYSE:JBL) Stock Holdings Reduced by North Growth Management Ltd.

North Growth Management Ltd. trimmed its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,000 shares of the technology company's stock after selling 38,000 shares during the quarter. Jabil comprises 7.1% of North Growth Management Ltd.'s holdings, making the stock its biggest position. North Growth Management Ltd. owned about 0.23% of Jabil worth $33,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JBL. Duncan Williams Asset Management LLC increased its position in shares of Jabil by 8.6% during the 1st quarter. Duncan Williams Asset Management LLC now owns 5,578 shares of the technology company's stock valued at $759,000 after purchasing an additional 440 shares during the period. Friedenthal Financial bought a new position in Jabil during the first quarter valued at about $76,000. Kingswood Wealth Advisors LLC boosted its stake in Jabil by 7.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock valued at $453,000 after buying an additional 217 shares in the last quarter. Patton Fund Management Inc. acquired a new position in Jabil during the first quarter worth about $3,845,000. Finally, QRG Capital Management Inc. raised its position in Jabil by 2.3% in the first quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after acquiring an additional 132 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Up 0.5%

Shares of JBL traded up $1.06 during midday trading on Friday, hitting $205.72. The stock had a trading volume of 3,050,936 shares, compared to its average volume of 1,433,557. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $208.69. The business has a 50-day simple moving average of $162.20 and a two-hundred day simple moving average of $153.19. The firm has a market cap of $22.08 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The firm's quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities analysts forecast that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Jabil's payout ratio is currently 6.21%.

Insider Transactions at Jabil

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company's stock, valued at approximately $227,624,059.52. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 277,976 shares of company stock valued at $52,261,361 over the last quarter. Company insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays raised their target price on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial restated a "strong-buy" rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price target on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $213.57.

Jabil Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).