Mirae Asset Global Investments Co. Ltd. Purchases 7,670 Shares of Jabil, Inc. (NYSE:JBL)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Jabil, Inc. (NYSE:JBL) by 65.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 19,407 shares of the technology company’s stock after purchasing an additional 7,670 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Jabil were worth $2,639,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Jabil by 84.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company’s stock worth $1,846,000 after purchasing an additional 6,225 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Jabil by 7.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company’s stock worth $453,000 after buying an additional 217 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Jabil by 2.3% in the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company’s stock worth $813,000 after buying an additional 132 shares during the last quarter. Keybank National Association OH purchased a new position in shares of Jabil during the fourth quarter valued at approximately $214,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JBL shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil 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, June 27th. UBS Group raised their target price on shares of Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. The Goldman Sachs Group lifted their target price on shares of Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Finally, Argus raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jabil presently has an average rating of “Buy” and an average target price of $225.71.

Jabil Stock Performance

Shares of Jabil stock opened at $222.19 on Thursday. Jabil, Inc. has a 12 month low of $95.85 and a 12 month high of $222.36. The firm has a market capitalization of $23.85 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.51 and a beta of 1.20. 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 business has a fifty day simple moving average of $175.18 and a two-hundred day simple moving average of $157.42.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. The company 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 was up 15.7% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. On average, equities analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.14%. Jabil’s payout ratio is currently 6.21%.

Insider Buying and Selling

In other Jabil news, Director Steven A. Raymund sold 15,955 shares of Jabil stock in a transaction on Friday, June 27th. The stock was sold at an average price of $216.83, for a total transaction of $3,459,522.65. Following the completion of the transaction, the director owned 99,828 shares in the company, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Francis Mckay sold 3,395 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $205.48, for a total value of $697,604.60. Following the completion of the sale, the senior vice president directly owned 38,112 shares in the company, valued at $7,831,253.76. This trade represents a 8.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,431 shares of company stock worth $60,571,609 over the last three months. Corporate insiders own 1.73% of the company’s stock.

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).