Range Financial Group LLC Takes Position in Jabil Inc. (NYSE:JBL)

Range Financial Group LLC purchased a new stake in shares of Jabil Inc. (NYSE:JBL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,652 shares of the technology company's stock, valued at approximately $225,000.

Several other institutional investors have also added to or reduced their stakes in JBL. Bleakley Financial Group LLC boosted its stake in shares of Jabil by 2.2% during the 4th quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company's stock valued at $471,000 after purchasing an additional 70 shares in the last quarter. Savant Capital LLC lifted its holdings in Jabil by 1.9% in the fourth quarter. Savant Capital LLC now owns 5,332 shares of the technology company's stock worth $767,000 after buying an additional 99 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Jabil by 21.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock valued at $77,000 after acquiring an additional 99 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of Jabil by 0.5% during the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after acquiring an additional 100 shares during the period. Finally, Atlas Capital Advisors Inc. raised its position in shares of Jabil by 1.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock worth $1,506,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Activity at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the sale, the chairman now directly owns 1,710,192 shares of the company's stock, valued at approximately $285,174,516. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the transaction, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $7,665,200 over the last quarter. Company insiders own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JBL. The Goldman Sachs Group upped their price target on Jabil from $165.00 to $188.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays upped their target price on shares of Jabil from $184.00 to $206.00 and gave the stock an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. UBS Group upped their price objective on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Wall Street Zen raised shares of Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $169.17.

Jabil Stock Up 0.4%

NYSE:JBL traded up $0.72 on Tuesday, reaching $178.10. 1,958,951 shares of the stock traded hands, compared to its average volume of 1,427,721. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.65 and a beta of 1.14. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $180.04. The company's fifty day simple moving average is $150.94 and its 200 day simple moving average is $149.76.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. Equities analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. Jabil's payout ratio is 7.66%.

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).