Strs Ohio Invests $26.12 Million in Jabil, Inc. $JBL

Key Points

• Strs Ohio acquired a new stake in Jabil, Inc. (NYSE:JBL) in Q1, purchasing 191,942 shares valued at approximately $26.1 million, representing around 0.18% of the company.
• Institutional investors own 93.39% of Jabil's stock, with notable stake increases from firms like Wellington Management and Jacobs Levy Equity Management.
• Jabil reported earnings of $2.55 per share for the recent quarter, exceeding expectations, with a revenue of $7.83 billion, a 15.7% increase from the previous year.

Strs Ohio purchased a new position in Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 191,942 shares of the technology company's stock, valued at approximately $26,118,000. Strs Ohio owned approximately 0.18% of Jabil at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in Jabil during the first quarter worth about $27,000. Harbor Capital Advisors Inc. increased its position in Jabil by 110.5% during the first 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 last quarter. Groupe la Francaise increased its position in Jabil by 35.2% during the first quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after purchasing an additional 64 shares during the last quarter. Golden State Wealth Management LLC increased its position in Jabil by 2,400.0% during the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock worth $37,000 after purchasing an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Jabil during the first quarter worth about $52,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total value of $4,000,400.00. Following the completion of the transaction, the chairman owned 1,400,190 shares in the company, valued at $280,066,003.80. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,500 shares of Jabil stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the completion of the transaction, the executive vice president owned 124,203 shares of the company's stock, valued at $27,765,580.65. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,871 shares of company stock valued at $22,604,086 over the last ninety days. 1.73% of the stock is currently owned by corporate insiders.

Jabil Stock Up 5.4%

Shares of JBL stock traded up $11.54 during trading on Thursday, reaching $225.18. The company's stock had a trading volume of 1,379,191 shares, compared to its average volume of 1,401,355. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 43.73, a P/E/G ratio of 1.24 and a beta of 1.25. The stock's 50-day moving average price is $216.17 and its 200 day moving average price is $180.04. Jabil, Inc. has a 1-year low of $108.66 and a 1-year high of $232.84.

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 for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion during 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 business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, research analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. Jabil's payout ratio is 6.21%.

Analysts Set New Price Targets

Several research firms recently issued reports on JBL. Zacks Research cut shares of Jabil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Stifel Nicolaus started coverage on shares of Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective for the company. Bank of America lifted their price target on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. The Goldman Sachs Group lifted their price target on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Jabil has an average rating of "Moderate Buy" and a consensus target price of $231.71.

Jabil 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).