Spectrum Wealth Counsel LLC Grows Holdings in Jabil, Inc. (NYSE:JBL)

Key Points

• Spectrum Wealth Counsel LLC significantly increased its holdings in Jabil, Inc. by 2,839.3%, owning 13,697 shares valued at approximately $1.86 million at the end of the first quarter.
• Jabil recently reported earnings per share of $2.55, exceeding analysts' expectations of $2.28 and marking a 15.7% increase in quarterly revenue year-over-year.
• Various analysts have raised their price targets for Jabil, with Barclays setting a new target of $223 and Bank of America increasing it to $245, reflecting a general bullish sentiment on the stock.

Spectrum Wealth Counsel LLC boosted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 2,839.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,697 shares of the technology company's stock after purchasing an additional 13,231 shares during the quarter. Spectrum Wealth Counsel LLC's holdings in Jabil were worth $1,864,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Jabil in the first quarter valued at about $27,000. Harbor Capital Advisors Inc. boosted its stake in shares of 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 acquiring an additional 116 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 264 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of 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 acquiring an additional 307 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Jabil during the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JBL. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. Barclays raised their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Stifel Nicolaus began coverage on shares of Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. Bank of America raised their target price on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $231.71.

Jabil Price Performance

Jabil stock opened at $222.33 on Friday. The firm's 50-day moving average is $198.29 and its two-hundred day moving average is $166.58. 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, Inc. has a 12-month low of $95.85 and a 12-month high of $229.16. The stock has a market capitalization of $23.86 billion, a P/E ratio of 43.17, a P/E/G ratio of 1.55 and a beta of 1.20.

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

Insiders Place Their Bets

In related news, Director Steven A. Raymund sold 13,432 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were 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 approximately $19,275,811.56. This trade represents 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 at the SEC website. Also, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total transaction of $222,750.00. Following the transaction, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 322,847 shares of company stock valued at $63,849,847. 1.73% of the stock is currently owned by corporate 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).

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