Perpetual Ltd Boosts Holdings in Jabil, Inc. $JBL

Key Points

• Perpetual Ltd significantly increased its position in Jabil, Inc. by 7,702.4% in Q2, owning 250,769 shares valued at $54.69 million after purchasing an additional 247,555 shares.
• Jabil reported a strong quarterly earnings performance with $2.55 earnings per share, surpassing expectations, and a revenue of $7.83 billion, up 15.7% year-over-year.
• Analysts have set new price targets for Jabil, with UBS raising their target to $208 and JPMorgan increasing theirs to $256, indicating positive sentiment toward the stock.

Perpetual Ltd raised its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 7,702.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 250,769 shares of the technology company's stock after acquiring an additional 247,555 shares during the quarter. Perpetual Ltd owned approximately 0.23% of Jabil worth $54,693,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the sale, the executive vice president owned 124,203 shares in the company, valued at $27,765,580.65. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Priestley sold 3,702 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total transaction 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 approximately $10,087,425. This represents a 7.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,371 shares of company stock valued at $22,085,161 over the last 90 days. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Up 0.8%

Shares of JBL stock traded up $1.90 on Tuesday, hitting $235.13. The stock had a trading volume of 662,727 shares, compared to its average volume of 1,417,917. The business has a 50 day moving average of $216.51 and a 200 day moving average of $182.36. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. Jabil, Inc. has a 12-month low of $108.66 and a 12-month high of $237.14.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. Jabil's dividend payout ratio is currently 6.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays upped their price objective on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Bank of America upped their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group upped their price objective on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $231.71.

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).