Vanguard Group Inc. Has $1.80 Billion Stake in Jabil, Inc. (NYSE:JBL)

Key Points

• Vanguard Group Inc. reduced its stake in Jabil by 3.2%, selling 432,837 shares and retaining approximately 12.34% of the company, valued at $1.8 billion.
• Analysts have raised their price targets for Jabil, with Goldman Sachs setting a new target of $215 and JPMorgan Chase increasing theirs to $256, indicating strong market confidence.
• Jabil reported earnings per share (EPS) of $2.55 in its latest quarter, exceeding estimates, and showing a year-over-year revenue increase of 15.7% to $7.83 billion.

Vanguard Group Inc. reduced its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,249,892 shares of the technology company's stock after selling 432,837 shares during the period. Vanguard Group Inc. owned approximately 12.34% of Jabil worth $1,802,913,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in JBL. Cordatus Wealth Management LLC raised its position in shares of Jabil by 2.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company's stock valued at $330,000 after acquiring an additional 68 shares in the last quarter. Allworth Financial LP boosted its stake in Jabil by 22.5% during the first quarter. Allworth Financial LP now owns 529 shares of the technology company's stock valued at $77,000 after buying an additional 97 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Jabil by 21.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock worth $77,000 after purchasing an additional 99 shares in the last quarter. Utah Retirement Systems increased its stake in Jabil by 0.5% in the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after purchasing an additional 100 shares in the last quarter. Finally, Smithfield Trust Co boosted its position in Jabil by 14.2% during the 1st quarter. Smithfield Trust Co now owns 843 shares of the technology company's stock worth $114,000 after acquiring an additional 105 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Price Performance

JBL stock traded up $7.59 during trading on Tuesday, hitting $230.26. The company had a trading volume of 1,135,026 shares, compared to its average volume of 1,245,772. The company has a fifty day moving average price of $211.75 and a two-hundred day moving average price of $171.71. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market cap of $24.71 billion, a P/E ratio of 44.71, a P/E/G ratio of 1.56 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $99.67 and a fifty-two week high of $232.84.

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

Jabil Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil's dividend payout ratio (DPR) is currently 6.21%.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the transaction, the executive vice president directly owned 124,203 shares in the company, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anousheh Ansari sold 1,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total value of $222,750.00. Following the completion of the transaction, the director owned 36,400 shares in the company, valued at approximately $8,108,100. This represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 342,847 shares of company stock valued at $68,233,847 over the last quarter. Company insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JBL. Stifel Nicolaus began coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays raised 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. The Goldman Sachs Group raised their price objective on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Bank of America raised their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Jabil presently has a consensus rating of "Buy" and a consensus price target of $231.71.

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).