Russell Investments Group Ltd. Has $49.39 Million Stake in Jabil, Inc. (NYSE:JBL)

Key Points

• Russell Investments Group Ltd. increased its ownership in Jabil, Inc. by 112.6%, acquiring a total of 363,002 shares valued at approximately $49.4 million.
• Jabil's stock price has been positively affected by recent analyst upgrades, with Barclays and Goldman Sachs increasing their price targets to $223.00 and $215.00, respectively.
• The company is set to pay a $0.08 per share dividend on September 3rd, with a yield of 14.0%, further indicating its strong financial performance.

Russell Investments Group Ltd. raised its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 112.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 363,002 shares of the technology company's stock after acquiring an additional 192,278 shares during the quarter. Russell Investments Group Ltd. owned 0.34% of Jabil worth $49,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV acquired a new stake in Jabil during the 1st quarter worth about $27,000. Harbor Capital Advisors Inc. raised its holdings 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 during the period. Golden State Wealth Management LLC raised its holdings 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 during the period. True Wealth Design LLC raised its holdings 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 during the period. Finally, Wayfinding Financial LLC acquired a new stake in Jabil during the 1st quarter worth about $52,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Jabil news, Director Anousheh Ansari sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total transaction of $222,750.00. Following the completion of the sale, the director owned 36,400 shares of the company's stock, valued at $8,108,100. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of the company's 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 sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 332,847 shares of company stock valued at $66,534,847. Insiders own 1.73% of the company's stock.

Jabil Stock Down 1.0%

NYSE:JBL traded down $2.09 during mid-day trading on Friday, reaching $215.31. The stock had a trading volume of 1,272,574 shares, compared to its average volume of 1,272,822. The business's 50 day moving average is $214.36 and its 200 day moving average is $172.89. Jabil, Inc. has a fifty-two week low of $99.67 and a fifty-two week high of $232.84. The stock has a market cap of $23.11 billion, a P/E ratio of 41.81, a PEG ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64.

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

Jabil Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 14.0%. Jabil's dividend payout ratio is presently 6.21%.

Analyst Ratings Changes

JBL has been the topic of a number of research reports. Raymond James Financial reiterated a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. UBS Group upped their target price on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Barclays upped their target price on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. upped their target price on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Bank of America upped their target price on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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).