Atria Wealth Solutions Inc. Acquires 468 Shares of Jabil, Inc. (NYSE:JBL)

Atria Wealth Solutions Inc. boosted its holdings in Jabil, Inc. (NYSE:JBL) by 6.1% in the first quarter, Holdings Channel reports. The firm owned 8,172 shares of the technology company’s stock after purchasing an additional 468 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Jabil were worth $1,112,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new position in Jabil during the first quarter worth $27,000. Harbor Capital Advisors Inc. increased its holdings in Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after buying an additional 116 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Jabil by 2,400.0% in the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $37,000 after purchasing an additional 264 shares during the last quarter. True Wealth Design LLC grew its holdings in Jabil by 3,411.1% during the fourth quarter. True Wealth Design LLC now owns 316 shares of the technology company’s stock worth $45,000 after purchasing an additional 307 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Jabil during the first quarter worth approximately $52,000. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $222.45 on Tuesday. The stock has a market cap of $23.87 billion, a P/E ratio of 43.19, a PEG ratio of 1.57 and a beta of 1.20. The stock has a 50 day simple moving average of $210.61 and a 200 day simple moving average of $171.30. 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, Inc. has a 1-year low of $99.67 and a 1-year high of $232.84.

Jabil (NYSE:JBL) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. Research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on JBL shares. Stifel Nicolaus started coverage on Jabil in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price objective on the stock. Argus upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. The Goldman Sachs Group increased their price target on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Wall Street Zen cut Jabil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, Bank of America increased their price target on Jabil from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, June 20th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Jabil currently has an average rating of “Buy” and an average target price of $231.71.

Insiders Place Their Bets

In related news, Director Steven A. Raymund sold 13,432 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 86,396 shares in the company, valued at approximately $19,275,811.56. The trade was a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the sale, the executive vice president owned 124,203 shares of the company’s stock, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,847 shares of company stock valued at $68,233,847 in the last quarter. Company insiders own 1.73% of the company’s stock.

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).