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United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys 1,200 Shares of Jabil, Inc. (NYSE:JBL)

Jabil logo with Computer and Technology background

Key Points

  • United Super Pty Ltd significantly increased its holdings in Jabil, Inc. by 38.7% during the first quarter, owning 4,300 shares valued at $585,000.
  • Several institutional investors, including PNC Financial Services and Jefferies Financial Group, also increased their stakes in Jabil, reflecting strong institutional interest.
  • Jabil's analysts have raised price targets, with JPMorgan Chase & Co. lifting their target from $214 to $256, suggesting a positive outlook for the company.
  • MarketBeat previews the top five stocks to own by September 1st.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its position in Jabil, Inc. (NYSE:JBL - Free Report) by 38.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,300 shares of the technology company's stock after acquiring an additional 1,200 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Jabil were worth $585,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after purchasing an additional 416,841 shares during the last quarter. Geode Capital Management LLC grew its stake in Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock worth $404,024,000 after buying an additional 34,574 shares in the last quarter. Northern Trust Corp lifted its stake in Jabil by 21.7% during the fourth quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company's stock worth $184,010,000 after purchasing an additional 227,954 shares during the last quarter. Bank of New York Mellon Corp grew its position in Jabil by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after acquiring an additional 37,201 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after buying an additional 878,444 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Insider Activity

In other Jabil news, CEO Michael Dastoor sold 18,234 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 203,459 shares in the company, valued at approximately $38,994,951.94. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Priestley sold 13,913 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the sale, the executive vice president owned 53,528 shares in the company, valued at approximately $10,875,283.76. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 322,847 shares of company stock valued at $63,849,847. 1.73% of the stock is currently owned by insiders.

Jabil Trading Up 1.6%

Jabil stock traded up $3.59 during trading hours on Monday, reaching $222.15. The stock had a trading volume of 1,058,435 shares, compared to its average volume of 1,264,365. The company has a fifty day simple moving average of $204.15 and a 200-day simple moving average of $169.04. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $232.84. The stock has a market cap of $23.84 billion, a PE ratio of 43.14, a PEG ratio of 1.53 and a beta of 1.20. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Jabil's revenue was up 15.7% on a year-over-year basis. Analysts forecast that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JBL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. UBS Group upped their target price on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. The Goldman Sachs Group lifted their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Stifel Nicolaus began coverage on Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target on the stock. Finally, Barclays lifted their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $231.71.

View Our Latest Analysis on Jabil

About Jabil

(Free Report)

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).

See Also

Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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