Wellington Management Group LLP Has $892.10 Million Stock Holdings in Jabil, Inc. $JBL

Key Points

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Wellington Management Group LLP raised its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,556,153 shares of the technology company's stock after purchasing an additional 747,423 shares during the period. Wellington Management Group LLP owned 6.11% of Jabil worth $892,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Jabil by 15.7% in the first quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock worth $295,693,000 after acquiring an additional 295,496 shares during the last quarter. Northern Trust Corp grew its stake in shares of Jabil by 8.3% in the first quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company's stock worth $188,370,000 after acquiring an additional 105,632 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 worth $152,165,000 after acquiring an additional 37,201 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of 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 worth $138,954,000 after acquiring an additional 878,444 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Jabil by 7.9% in the first quarter. Victory Capital Management Inc. now owns 676,472 shares of the technology company's stock worth $92,048,000 after acquiring an additional 49,431 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Activity at Jabil

In related news, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the sale, the director owned 86,396 shares in the company, valued at approximately $19,275,811.56. This represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anousheh Ansari sold 1,000 shares of the stock in a transaction on 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 sale, the director owned 36,400 shares in the company, valued at approximately $8,108,100. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 332,847 shares of company stock worth $66,534,847. Insiders own 1.73% of the company's stock.

Jabil Stock Performance

Shares of NYSE:JBL opened at $215.83 on Tuesday. The stock has a market capitalization of $23.16 billion, a P/E ratio of 41.91, a P/E/G ratio of 1.50 and a beta of 1.20. Jabil, Inc. has a 1-year low of $99.67 and a 1-year high of $232.84. The business has a 50-day moving average price of $215.13 and a two-hundred day moving average price of $173.33. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (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 during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the firm earned $1.89 EPS. Jabil's quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil's dividend payout ratio is currently 6.21%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JBL. JPMorgan Chase & Co. raised their price objective on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Barclays lifted their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Bank of America increased their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $231.71.

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).

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