Nuveen LLC Takes $44.33 Million Position in Jabil, Inc. $JBL

Key Points

• Nuveen LLC acquired a new stake in Jabil, Inc. during Q1, purchasing 325,787 shares valued at approximately $44.3 million, which brings its total ownership to about 0.30% of the company.
• Jabil recently reported Q2 earnings of $2.55 EPS, exceeding estimates of $2.28, with revenues of $7.83 billion, reflecting a 15.7% year-over-year increase.
• Jabil's board members have sold a total of 332,847 shares in the last three months, with insider ownership now at 1.73% of the company's stock.

Nuveen LLC bought a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 325,787 shares of the technology company's stock, valued at approximately $44,330,000. Nuveen LLC owned approximately 0.30% of Jabil as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Jabil by 15.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock worth $295,693,000 after purchasing an additional 295,496 shares in the last quarter. Northern Trust Corp increased its position in shares of Jabil by 21.7% during the 4th quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company's stock worth $184,010,000 after purchasing an additional 227,954 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Jabil by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock worth $152,165,000 after purchasing an additional 37,201 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Jabil by 1,007.6% during the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock worth $138,954,000 after purchasing an additional 878,444 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Jabil by 7.9% in the 1st quarter. Victory Capital Management Inc. now owns 676,472 shares of the technology company's stock valued at $92,048,000 after acquiring an additional 49,431 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JBL shares. JPMorgan Chase & Co. boosted their target price on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Bank of America boosted their target price on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. UBS Group boosted their target price on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Stifel Nicolaus started coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Jabil currently has an average rating of "Buy" and a consensus target price of $231.71.

Jabil Trading Down 4.5%

Shares of NYSE:JBL traded down $9.7850 during trading on Tuesday, hitting $205.8750. 2,003,779 shares of the company's stock were exchanged, compared to its average volume of 1,418,015. Jabil, Inc. has a 1-year low of $99.67 and a 1-year high of $232.84. The firm has a 50-day moving average price of $215.13 and a two-hundred day moving average price of $173.33. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The firm has a market cap of $22.09 billion, a P/E ratio of 39.98, a PEG ratio of 1.50 and a beta of 1.20.

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, topping 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 company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the previous year, the company earned $1.89 EPS. Jabil's revenue was up 15.7% on a year-over-year basis. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. Equities analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 15th. This represents a yield of 14.0%. Jabil's payout ratio is currently 6.21%.

Insider Activity

In related news, EVP Steven D. Borges sold 22,443 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the transaction, the executive vice president owned 102,803 shares in the company, valued at approximately $20,561,628.03. The trade was a 17.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Dastoor sold 18,234 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the transaction, the chief executive officer owned 203,459 shares of the company's stock, valued at approximately $38,994,951.94. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 332,847 shares of company stock valued at $66,534,847. 1.73% of the stock is currently owned by company insiders.

Jabil Company 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).