Swedbank AB Trims Position in Jabil, Inc. $JBL

Key Points

• Swedbank AB has reduced its stake in Jabil, Inc. by 37.7%, selling 8,814 shares, leaving it with 14,584 shares valued at approximately $1,984,000.
• Multiple large investors, including Voya Investment Management and First Hawaiian Bank, have significantly increased their stakes in Jabil during the first quarter, showcasing growing institutional interest.
• Jabil recently reported $2.55 earnings per share for the last quarter, exceeding analyst expectations of $2.28 and marking a 15.7% year-over-year revenue increase.

Swedbank AB lowered its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,584 shares of the technology company's stock after selling 8,814 shares during the period. Swedbank AB's holdings in Jabil were worth $1,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new position in Jabil in the 1st quarter valued at $27,000. Harbor Capital Advisors Inc. increased its position in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after acquiring an additional 116 shares during the period. Groupe la Francaise increased its position in shares of Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after acquiring an additional 64 shares during the period. 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 valued at $37,000 after purchasing an additional 264 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Jabil during the 1st quarter valued at about $52,000. 93.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JBL has been the topic of a number of research reports. Raymond James Financial reaffirmed a "strong-buy" rating and set a $230.00 target price (up previously from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Bank of America upped their price target on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Stifel Nicolaus initiated coverage on shares of Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. Wall Street Zen lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Zacks Research downgraded shares of Jabil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One equities research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $231.71.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total transaction of $4,000,400.00. Following the completion of the transaction, the chairman owned 1,400,190 shares in the company, valued at approximately $280,066,003.80. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,500 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the sale, the executive vice president directly owned 124,203 shares of the company's stock, valued at $27,765,580.65. This represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,371 shares of company stock worth $22,085,161 in the last ninety days. Company insiders own 1.73% of the company's stock.

Jabil Trading Up 0.4%

Shares of JBL stock traded up $0.83 on Friday, hitting $224.12. 2,883,233 shares of the stock traded hands, compared to its average volume of 1,283,373. The firm's 50-day moving average price is $216.26 and its two-hundred day moving average price is $181.14. Jabil, Inc. has a twelve month low of $108.66 and a twelve month high of $232.84. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The stock has a market capitalization of $24.05 billion, a PE ratio of 43.52, a PEG ratio of 1.32 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly 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. 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 business's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's payout ratio is 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).