Richard P Slaughter Associates Inc Has $997,000 Stock Position in Jabil, Inc. $JBL

Key Points

• Richard P Slaughter Associates Inc reduced its stake in Jabil, Inc. by 41.5%, leaving it with 4,573 shares worth approximately $997,000.
• Jabil reported a quarterly EPS of $2.55, exceeding analysts' expectations of $2.28, alongside a revenue increase of 15.7% year-over-year.
• Multiple institutional investors recently increased their holdings in Jabil, with hedge funds owning 93.39% of the company's stock.

Richard P Slaughter Associates Inc decreased its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 41.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,573 shares of the technology company's stock after selling 3,241 shares during the period. Richard P Slaughter Associates Inc's holdings in Jabil were worth $997,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC bought a new position in Jabil during the 2nd quarter worth $224,000. Parallel Advisors LLC increased its position in Jabil by 8.0% during the 2nd quarter. Parallel Advisors LLC now owns 4,659 shares of the technology company's stock worth $1,016,000 after buying an additional 346 shares during the period. Kera Capital Partners Inc. bought a new position in Jabil during the 2nd quarter worth $266,000. Rowlandmiller & PARTNERS.ADV bought a new position in Jabil during the 2nd quarter worth $153,000. Finally, Voya Investment Management LLC increased its position in Jabil by 29.1% during the 1st quarter. Voya Investment Management LLC now owns 142,173 shares of the technology company's stock worth $19,345,000 after buying an additional 32,070 shares during the period. Institutional investors own 93.39% of the company's stock.

Jabil Price Performance

Jabil stock traded down $1.04 during midday trading on Friday, reaching $222.25. The company's stock had a trading volume of 667,376 shares, compared to its average volume of 1,405,292. The business has a 50-day moving average price of $216.22 and a 200-day moving average price of $180.57. Jabil, Inc. has a 52 week low of $108.66 and a 52 week high of $232.84. The stock has a market cap of $23.85 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 1.26 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.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%.The business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. On average, sell-side analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. 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. JPMorgan Chase & Co. raised their price target on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Raymond James Financial restated a "strong-buy" rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Bank of America raised their price target on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, Barclays raised their price target on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.71.

Insider Activity at Jabil

In related news, Director Steven A. Raymund sold 13,432 shares of Jabil stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the transaction, the director directly owned 86,396 shares of the company's stock, valued at $19,275,811.56. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total value of $222,750.00. Following the completion of the transaction, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,371 shares of company stock valued at $22,085,161. Corporate insiders own 1.73% of the company's stock.

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).