Nykredit A S Makes New Investment in Jabil, Inc. $JBL

Key Points

• Nykredit A/S acquired 33,407 Jabil shares in the second quarter, valued at approximately $12.9 million. Institutional investors and hedge funds collectively own 93.39% of Jabil’s outstanding stock.
• Analysts remain broadly positive on Jabil, with a consensus rating of “Buy” and an average price target of $441.78. Recent targets range from $375 to $475.
• Jabil shares opened at $299.72, while the company maintains a 52-week range of $189.60 to $428.93. It also paid a quarterly dividend of $0.08 per share, representing a 0.1% yield.

Nykredit A S acquired a new position in Jabil, Inc. (NYSE:JBL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,407 shares of the technology company's stock, valued at approximately $12,878,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its holdings in shares of Jabil by 1,670.0% during the second quarter. Principia Wealth Advisory LLC now owns 177 shares of the technology company's stock valued at $68,000 after acquiring an additional 167 shares during the period. Amundi boosted its holdings in shares of Jabil by 69.4% in the second quarter. Amundi now owns 672,552 shares of the technology company's stock valued at $259,255,000 after acquiring an additional 275,571 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Jabil by 14.3% during the 2nd quarter. HighTower Advisors LLC now owns 48,626 shares of the technology company's stock valued at $18,744,000 after purchasing an additional 6,071 shares during the period. Groupe la Francaise grew its holdings in Jabil by 6.4% during the second quarter. Groupe la Francaise now owns 795 shares of the technology company's stock worth $307,000 after acquiring an additional 48 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Jabil in the 2nd quarter worth approximately $1,812,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Argus set a $475.00 target price on Jabil in a research report on Thursday, June 18th. The Goldman Sachs Group cut their target price on shares of Jabil from $482.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, September 8th. Robert W. Baird raised their price target on Jabil from $355.00 to $440.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. UBS Group raised shares of Jabil from a "neutral" rating to a "buy" rating and set a $430.00 price objective for the company in a research note on Tuesday, August 11th. Finally, Raymond James Financial boosted their target price on Jabil from $425.00 to $450.00 and gave the stock a "strong-buy" rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Jabil has an average rating of "Buy" and an average price target of $441.78.

Insiders Place Their Bets

In other Jabil news, EVP Matthew Crowley sold 94 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $345.00, for a total transaction of $32,430.00. Following the completion of the transaction, the executive vice president directly owned 57,536 shares in the company, valued at $19,849,920. This represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.35% of the stock is owned by company insiders.

Jabil Stock Up 0.1%

JBL opened at $299.72 on Monday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.98 and a quick ratio of 0.66. The firm's fifty day moving average price is $318.39 and its two-hundred day moving average price is $322.36. Jabil, Inc. has a fifty-two week low of $189.60 and a fifty-two week high of $428.93. The company has a market capitalization of $31.41 billion, a P/E ratio of 37.42, a P/E/G ratio of 0.67 and a beta of 1.29.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, August 14th. Jabil's payout ratio is presently 4.00%.

About Jabil

Jabil Inc is a global manufacturing and technology solutions provider that helps companies design, manufacture and manage products across their lifecycles. Its services include product and process engineering, supply-chain management, procurement, manufacturing, assembly, testing, packaging and aftermarket services.

The company supports customers in a range of industries, including cloud and data infrastructure, automotive, healthcare, connected devices, consumer products, energy and industrial applications.

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