Stevens Capital Management LP Sells 3,196 Shares of Jabil, Inc. (NYSE:JBL)

Key Points

• Stevens Capital Management LP reduced its stake in Jabil, Inc. by 56.4%, holding 2,473 shares valued at approximately $337,000 after selling 3,196 shares during the first quarter.
• Jabil's recent earnings report revealed earnings per share of $2.55, surpassing estimates, with revenue reaching $7.83 billion, a 15.7% increase from the previous year.
• Multiple analysts have upgraded their price targets for Jabil, with Bank of America raising it from $225.00 to $245.00 and JPMorgan lifting it from $214.00 to $256.00, reflecting a strong consensus of "buy" ratings.

Stevens Capital Management LP cut its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 56.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,473 shares of the technology company's stock after selling 3,196 shares during the quarter. Stevens Capital Management LP's holdings in Jabil were worth $337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creative Financial Designs Inc. ADV purchased a new stake in Jabil in the first quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Jabil in the 4th quarter worth $29,000. Harbor Capital Advisors Inc. grew its holdings 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 purchasing an additional 116 shares during the period. Golden State Wealth Management LLC boosted 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 valued at $37,000 after acquiring an additional 264 shares during the period. Finally, True Wealth Design LLC boosted its stake in shares of Jabil by 3,411.1% in the 4th quarter. True Wealth Design LLC now owns 316 shares of the technology company's stock valued at $45,000 after buying an additional 307 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted 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. Bank of America upped their price target on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Argus upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Stifel Nicolaus assumed coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. One investment 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 currently has an average rating of "Buy" and an average price target of $231.71.

Jabil Stock Performance

NYSE:JBL traded down $1.61 during mid-day trading on Wednesday, hitting $228.77. The stock had a trading volume of 289,333 shares, compared to its average volume of 1,419,540. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $232.84. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 1.57 and a beta of 1.20. The company's 50 day simple moving average is $200.70 and its 200 day simple moving average is $167.60. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. On average, equities research analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current year.

Insider Activity

In related news, Director Steven A. Raymund sold 15,955 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $216.83, for a total value of $3,459,522.65. Following the sale, the director owned 99,828 shares in the company, valued at $21,645,705.24. This represents a 13.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Dastoor sold 18,234 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the transaction, the chief executive officer directly owned 203,459 shares of the company's stock, valued at $38,994,951.94. This represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 322,847 shares of company stock valued at $63,849,847. Corporate insiders own 1.73% of the company's stock.

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).