Park Avenue Securities LLC Invests $1.51 Million in Jabil, Inc. $JBL

Key Points

• Park Avenue Securities LLC invested approximately $1.51 million in Jabil, Inc. by acquiring 6,900 shares during the second quarter, highlighting institutional interest in the company.
• Jabil's quarterly dividend of $0.08 per share was recently paid, reflecting an annual yield of 0.2%, while its payout ratio stands at 6.21%.
• Analysts have given Jabil a consensus rating of "Moderate Buy" with a target price of $236.00, despite some recent downgrades from "strong-buy" to "hold" by various firms.

Park Avenue Securities LLC purchased a new position in Jabil, Inc. (NYSE:JBL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,900 shares of the technology company's stock, valued at approximately $1,505,000.

A number of other hedge funds have also recently made changes to their positions in the stock. UMB Bank n.a. boosted its position in shares of Jabil by 2.9% in the 2nd quarter. UMB Bank n.a. now owns 2,191 shares of the technology company's stock worth $478,000 after purchasing an additional 62 shares in the last quarter. Groupe la Francaise lifted its position in Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after acquiring an additional 64 shares in the last quarter. Keeley Teton Advisors LLC lifted its position in Jabil by 0.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 25,398 shares of the technology company's stock valued at $3,456,000 after acquiring an additional 64 shares in the last quarter. Cordatus Wealth Management LLC lifted its position in Jabil by 2.9% in the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company's stock valued at $330,000 after acquiring an additional 68 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in Jabil by 2.4% in the 1st quarter. AlphaCore Capital LLC now owns 3,206 shares of the technology company's stock valued at $436,000 after acquiring an additional 76 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Price Performance

Shares of JBL opened at $210.42 on Friday. The firm has a market cap of $22.58 billion, a PE ratio of 40.86, a P/E/G ratio of 1.33 and a beta of 1.25. 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 fifty day simple moving average of $216.73 and a two-hundred day simple moving average of $183.55. Jabil, Inc. has a 1-year low of $108.66 and a 1-year high of $237.14.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Jabil's payout ratio is currently 6.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Zacks Research cut Jabil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Stifel Nicolaus assumed coverage on Jabil in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective on the stock. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Bank of America upped their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $236.00.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $200.02, for a total value of $4,000,400.00. Following the completion of the sale, the chairman directly owned 1,400,190 shares in the company, valued at $280,066,003.80. This represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew Priestley sold 3,702 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $225.00, for a total value of $832,950.00. Following the completion of the sale, the executive vice president owned 44,833 shares of the company's stock, valued at $10,087,425. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,416 shares of company stock worth $18,625,639 over the last three months. 1.73% of the stock is currently owned by insiders.

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).

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