Successful Portfolios LLC Takes Position in Jabil, Inc. $JBL

Successful Portfolios LLC purchased a new stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,282 shares of the technology company's stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ascent Group LLC boosted its holdings in shares of Jabil by 6.7% during the second quarter. Ascent Group LLC now owns 3,092 shares of the technology company's stock valued at $674,000 after acquiring an additional 195 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Jabil during the second quarter valued at $78,000. Yeomans Consulting Group Inc. bought a new stake in shares of Jabil during the second quarter valued at about $316,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Jabil by 2.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,847 shares of the technology company's stock valued at $4,329,000 after purchasing an additional 440 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. raised its stake in shares of Jabil by 142.7% during the second quarter. ASR Vermogensbeheer N.V. now owns 12,682 shares of the technology company's stock valued at $2,766,000 after purchasing an additional 7,457 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on JBL. JPMorgan Chase & Co. lifted their price objective on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Raymond James Financial set a $260.00 price objective on shares of Jabil in a research note on Thursday, September 25th. Stifel Nicolaus began coverage on shares of Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen upgraded shares of Jabil from a "buy" rating to a "strong-buy" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $248.43.

Insiders Place Their Bets

In related news, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $214.84, for a total value of $4,296,800.00. Following the completion of the sale, the chairman owned 1,380,190 shares of the company's stock, valued at approximately $296,520,019.60. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven A. Raymund sold 13,432 shares of the business'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 completion of the sale, the director directly owned 86,396 shares of the company's stock, valued at approximately $19,275,811.56. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,416 shares of company stock worth $18,367,889. Insiders own 1.73% of the company's stock.

Jabil Price Performance

NYSE JBL opened at $202.22 on Friday. The stock's 50-day moving average price is $215.60 and its two-hundred day moving average price is $186.82. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.57. The company has a market cap of $21.70 billion, a PE ratio of 33.93, a PEG ratio of 1.53 and a beta of 1.26. Jabil, Inc. has a 1 year low of $108.66 and a 1 year high of $237.14.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's payout ratio is 5.37%.

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).

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