State of Alaska Department of Revenue Has $4.10 Million Stock Position in Jabil, Inc. (NYSE:JBL)

State of Alaska Department of Revenue lowered its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,103 shares of the technology company's stock after selling 10,040 shares during the quarter. State of Alaska Department of Revenue's holdings in Jabil were worth $4,095,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Jabil in the 4th quarter valued at $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Jabil in the fourth quarter valued at about $29,000. Harbor Capital Advisors Inc. lifted its stake in Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after buying an additional 116 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Jabil in the fourth quarter valued at $37,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock valued at $39,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen raised shares of Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Raymond James Financial reissued a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a report on Wednesday. Barclays lifted their target price on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Finally, UBS Group raised 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Jabil has a consensus rating of "Buy" and a consensus price target of $213.57.

Insider Activity

In other Jabil news, EVP Steven D. Borges sold 22,443 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the sale, the executive vice president now directly owns 102,803 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the sale, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 277,976 shares of company stock worth $52,261,361. 1.73% of the stock is owned by corporate insiders.

Jabil Stock Performance

Jabil stock traded up $1.06 during mid-day trading on Friday, reaching $205.72. The company had a trading volume of 3,050,936 shares, compared to its average volume of 1,433,557. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.50 and a beta of 1.14. The company has a 50 day moving average of $162.20 and a 200-day moving average of $153.07. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $208.69.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. The firm 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 revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. On average, sell-side analysts expect that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Thursday, May 15th. Jabil's payout ratio is presently 6.21%.

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).