Jabil, Inc. (NYSE:JBL) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 90.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,650 shares of the technology company's stock after buying an additional 2,684 shares during the quarter. Verdence Capital Advisors LLC's holdings in Jabil were worth $769,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of JBL. Wellington Management Group LLP boosted its position in shares of Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after acquiring an additional 5,800,535 shares during the last quarter. Norges Bank bought a new stake in shares of Jabil during the 4th quarter valued at about $218,430,000. Point72 Asset Management L.P. boosted its position in shares of Jabil by 1,007.6% during the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after acquiring an additional 878,444 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Jabil by 16,190.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock valued at $79,539,000 after buying an additional 549,347 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Jabil by 17,410.3% during the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock valued at $71,431,000 after buying an additional 521,960 shares in the last quarter. Institutional investors own 93.39% of the company's stock.

Insider Buying and Selling at Jabil

In related news, Director Steven A. Raymund sold 15,955 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $216.83, for a total value of $3,459,522.65. Following the completion of the sale, the director directly owned 99,828 shares of the company's stock, valued at $21,645,705.24. This represents a 13.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Dastoor sold 18,234 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total value of $3,494,728.44. Following the sale, the chief executive officer directly owned 203,459 shares of the company's stock, valued at approximately $38,994,951.94. This represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 297,431 shares of company stock worth $58,163,159. Corporate insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on JBL. Barclays boosted their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their price target on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. The Goldman Sachs Group boosted their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Stifel Nicolaus initiated coverage on Jabil in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective on the stock. One investment 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 company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $231.71.

Jabil Trading Up 0.8%

Jabil stock traded up $1.77 during trading on Friday, reaching $224.00. 1,280,116 shares of the company were exchanged, compared to its average volume of 1,424,532. Jabil, Inc. has a 52-week low of $95.85 and a 52-week high of $227.54. The company has a market capitalization of $24.04 billion, a P/E ratio of 43.50, a PEG ratio of 1.57 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. The stock's 50 day simple moving average is $192.62 and its two-hundred day simple moving average is $164.06.

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

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).