GAMMA Investing LLC boosted its position in shares of Jabil, Inc. (NYSE:JBL – Free Report) by 28.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,858 shares of the technology company’s stock after purchasing an additional 860 shares during the period. GAMMA Investing LLC’s holdings in Jabil were worth $525,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after buying an additional 5,800,535 shares during the period. 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 worth $796,220,000 after acquiring an additional 416,841 shares in the last quarter. Geode Capital Management LLC boosted its position in Jabil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after acquiring an additional 34,574 shares during the period. JPMorgan Chase & Co. grew its stake in Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after acquiring an additional 288,806 shares in the last quarter. Finally, Norges Bank purchased a new position in Jabil during the 4th quarter valued at about $218,430,000. 93.39% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Jabil
In other news, EVP Frederic E. Mccoy sold 8,971 shares of Jabil stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $205.39, for a total value of $1,842,553.69. Following the transaction, the executive vice president owned 128,616 shares of the company’s stock, valued at $26,416,440.24. This trade represents a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven D. Borges sold 22,443 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the sale, the executive vice president owned 102,803 shares of the company’s stock, valued at $20,561,628.03. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,476 shares of company stock worth $52,780,286 in the last 90 days. Company insiders own 1.73% of the company’s stock.
Jabil Stock Performance
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, topping analysts’ consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion during 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%. Jabil’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. As a group, equities analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current fiscal year.
Jabil Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.15%. Jabil’s dividend payout ratio (DPR) is presently 6.21%.
Analyst Upgrades and Downgrades
Several research firms recently commented on JBL. Raymond James Financial restated a “strong-buy” rating and set a $230.00 price target (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Argus raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Wall Street Zen upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday. Bank of America increased their price objective on Jabil from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their target price on Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil has an average rating of “Buy” and a consensus price target of $213.57.
Read Our Latest Analysis on Jabil
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).
Read More
- Five stocks we like better than Jabil
- Most active stocks: Dollar volume vs share volume
- Tesla’s Robotaxi Hype Fuels Bullish Price Targets to $500
- Using the MarketBeat Dividend Tax Calculator
- Value vs Growth Ratio Hits Cycle Low—Top Value Picks to Buy
- Top Biotech Stocks: Exploring Innovation Opportunities
- Biotech Catalyst Alert: NKTR, CDTX & WGS Rallying With Big Gains
Want to see what other hedge funds are holding JBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jabil, Inc. (NYSE:JBL – Free Report).
Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.