Optas LLC Purchases New Holdings in Jabil, Inc. $JBL

Key Points

• Optas LLC has acquired a new position in Jabil, Inc. (NYSE:JBL), purchasing 1,364 shares valued at approximately $297,000 during the second quarter.
• Insider selling was notable as Chairman Mark T. Mondello sold 20,000 shares for about $4.3 million, reducing his ownership by 1.43%.
• The company recently announced a quarterly dividend of $0.08 per share, representing an annualized yield of 0.2% with a dividend payout ratio of 5.37%.

Optas LLC bought a new position in Jabil, Inc. (NYSE:JBL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,364 shares of the technology company's stock, valued at approximately $297,000.

Other hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in Jabil in the 1st quarter worth about $27,000. Harbor Capital Advisors Inc. grew its stake in Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after acquiring an additional 116 shares in the last quarter. Groupe la Francaise grew its stake in Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after acquiring an additional 64 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Jabil by 2,400.0% in the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock worth $37,000 after acquiring an additional 264 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in Jabil in the 1st quarter worth about $52,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Down 0.8%

NYSE:JBL opened at $204.79 on Friday. Jabil, Inc. has a 52 week low of $108.66 and a 52 week high of $237.14. The firm has a 50 day moving average of $213.83 and a 200 day moving average of $188.47. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $21.98 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.47 and a beta of 1.26.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Jabil's dividend payout ratio is presently 5.37%.

Insider Activity

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $214.84, for a total transaction of $4,296,800.00. Following the completion of the sale, the chairman owned 1,380,190 shares of the company's stock, valued at $296,520,019.60. This represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the sale, the executive vice president directly owned 124,203 shares of the company's stock, valued at $27,765,580.65. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,416 shares of company stock worth $18,367,889. 1.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on JBL. Weiss Ratings restated a "hold (c+)" rating on shares of Jabil in a research note on Saturday, September 27th. Zacks Research cut shares of Jabil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. upped their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group upped their price target on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, Raymond James Financial set a $260.00 price target on shares of Jabil in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $248.43.

About Jabil

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).

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