Principal Financial Group Inc. Has $19.65 Million Stock Holdings in Jabil, Inc. (NYSE:JBL)

Principal Financial Group Inc. boosted its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,405 shares of the technology company's stock after purchasing an additional 1,139 shares during the period. Principal Financial Group Inc. owned about 0.13% of Jabil worth $19,649,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of JBL. Horizon Financial Services LLC acquired a new stake in shares of Jabil in the 1st quarter valued at approximately $111,000. Aaron Wealth Advisors LLC lifted its stake in Jabil by 12.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,014 shares of the technology company's stock valued at $274,000 after purchasing an additional 225 shares during the last quarter. KBC Group NV boosted its position in Jabil by 1.1% in the first quarter. KBC Group NV now owns 140,102 shares of the technology company's stock valued at $19,064,000 after buying an additional 1,527 shares in the last quarter. Highland Capital Management LLC grew its stake in shares of Jabil by 25.5% during the first quarter. Highland Capital Management LLC now owns 2,664 shares of the technology company's stock worth $362,000 after buying an additional 542 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Jabil by 65.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,407 shares of the technology company's stock worth $2,639,000 after buying an additional 7,670 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Trading Down 0.6%

JBL stock traded down $1.36 during trading on Monday, hitting $220.66. The company had a trading volume of 943,133 shares, compared to its average volume of 1,418,230. The stock has a market cap of $23.68 billion, a PE ratio of 42.85, a PEG ratio of 1.56 and a beta of 1.20. The business has a 50-day moving average of $185.78 and a 200-day moving average of $161.53. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a one year low of $95.85 and a one year high of $227.54.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the firm posted $1.89 EPS. The company's quarterly revenue was up 15.7% on a year-over-year basis. Research analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Thursday, May 15th. Jabil's dividend payout ratio (DPR) is presently 6.21%.

Wall Street Analyst Weigh In

JBL has been the topic of several recent research reports. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday. Barclays increased their target price on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Argus upgraded Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. Bank of America raised their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, 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 report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Jabil currently has an average rating of "Buy" and an average price target of $225.71.

Insider Buying and Selling

In related news, EVP Steven D. Borges sold 22,443 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the sale, the executive vice president owned 102,803 shares of the company's stock, valued at $20,561,628.03. This trade represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Dastoor sold 18,234 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $191.66, for a total value of $3,494,728.44. Following the transaction, the chief executive officer owned 203,459 shares in the company, valued at $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 297,431 shares of company stock worth $58,163,159 over the last three months. Insiders own 1.73% of the company's stock.

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).