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

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

Other large investors have also recently bought and sold shares of the company. Horizon Financial Services LLC bought a new stake in shares of Jabil during the first quarter worth $111,000. Aaron Wealth Advisors LLC lifted its stake in shares of Jabil by 12.6% during the first quarter. Aaron Wealth Advisors LLC now owns 2,014 shares of the technology company's stock valued at $274,000 after acquiring an additional 225 shares during the period. KBC Group NV lifted its stake in shares of Jabil by 1.1% during the first quarter. KBC Group NV now owns 140,102 shares of the technology company's stock valued at $19,064,000 after acquiring an additional 1,527 shares during the period. Highland Capital Management LLC lifted its stake in Jabil by 25.5% in the first quarter. Highland Capital Management LLC now owns 2,664 shares of the technology company's stock valued at $362,000 after buying an additional 542 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Jabil by 65.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,407 shares of the technology company's stock valued at $2,639,000 after buying an additional 7,670 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JBL. Stifel Nicolaus began coverage on Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price on the stock. Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. increased their target price on Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Raymond James Financial reissued a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Finally, UBS Group raised their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $225.71.

Jabil Price Performance

JBL stock traded up $0.96 during midday trading on Friday, reaching $221.92. 864,591 shares of the stock were exchanged, compared to its average volume of 1,417,731. The stock has a market capitalization of $23.82 billion, a PE ratio of 43.09, a P/E/G ratio of 1.55 and a beta of 1.20. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $227.54. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The company has a fifty day moving average price of $185.78 and a 200 day moving average price of $161.34.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The business's quarterly revenue was up 15.7% on a year-over-year basis. As a group, analysts expect that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.14%. Jabil's payout ratio is 6.21%.

Insider Activity

In other news, EVP Steven D. Borges sold 22,443 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total value of $4,488,824.43. Following the transaction, the executive vice president directly owned 102,803 shares of the company's stock, valued at $20,561,628.03. The trade was a 17.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark T. Mondello sold 150,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total value of $28,999,500.00. Following the completion of the transaction, the chairman directly owned 1,560,192 shares in the company, valued at $301,631,919.36. This represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 297,431 shares of company stock worth $58,163,159. 1.73% of the stock is owned by insiders.

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).