Royce & Associates LP Has $8.08 Million Stock Holdings in Jabil, Inc. (NYSE:JBL)

Key Points

• Royce & Associates LP reduced its stake in Jabil, Inc. by 19.6% during the first quarter, selling 14,478 shares, and now owns approximately 0.06% of the company worth about $8.08 million.
• Analysts are optimistic about Jabil's stock, with a consensus rating of "Buy" and a price target averaging $231.71, following several upgrades from research firms.
• Jabil reported strong earnings, with $2.55 EPS for the last quarter, surpassing expectations and marking a 15.7% year-over-year revenue increase.

Royce & Associates LP reduced its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 19.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,396 shares of the technology company's stock after selling 14,478 shares during the quarter. Royce & Associates LP owned 0.06% of Jabil worth $8,082,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV bought a new stake in Jabil during the 1st quarter worth about $27,000. Harbor Capital Advisors Inc. lifted its position in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after buying an additional 116 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Jabil by 2,400.0% during the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock worth $37,000 after buying an additional 264 shares in the last quarter. True Wealth Design LLC lifted its position in Jabil by 3,411.1% during the 4th quarter. True Wealth Design LLC now owns 316 shares of the technology company's stock worth $45,000 after buying an additional 307 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Jabil during the 1st quarter worth about $52,000. 93.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Steven D. Borges sold 22,443 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the transaction, the executive vice president owned 102,803 shares of the company's stock, valued at approximately $20,561,628.03. This trade represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Priestley sold 13,913 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the transaction, the executive vice president directly owned 53,528 shares of the company's stock, valued at $10,875,283.76. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 322,847 shares of company stock worth $63,849,847 over the last 90 days. Insiders own 1.73% of the company's stock.

Jabil Stock Performance

Shares of NYSE:JBL traded up $2.18 on Monday, reaching $224.73. 824,450 shares of the company's stock were exchanged, compared to its average volume of 1,425,171. The company has a fifty day moving average of $198.29 and a 200-day moving average of $166.67. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $229.16. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 1.55 and a beta of 1.20.

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, topping analysts' consensus estimates of $2.28 by $0.27. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, research analysts predict that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America upped their price target 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. Barclays upped their price target 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. UBS Group upped their price target on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. upped their price target on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus initiated coverage on shares of Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price on the stock. One investment 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 company. Based on data from MarketBeat, Jabil has an average rating of "Buy" and an average price target of $231.71.

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).