Arizona State Retirement System raised its position in shares of Jabil Inc. (NYSE:JBL – Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,012 shares of the technology company’s stock after acquiring an additional 198 shares during the period. Arizona State Retirement System’s holdings in Jabil were worth $3,439,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. ST Germain D J Co. Inc. acquired a new stake in Jabil during the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. raised its stake in Jabil by 391.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the technology company’s stock valued at $29,000 after buying an additional 333 shares in the last quarter. Amundi raised its stake in Jabil by 419.8% during the fourth quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after buying an additional 340 shares in the last quarter. Lindbrook Capital LLC raised its stake in Jabil by 29.6% during the fourth quarter. Lindbrook Capital LLC now owns 586 shares of the technology company’s stock valued at $40,000 after buying an additional 134 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in Jabil during the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.90% of the company’s stock.
Analyst Upgrades and Downgrades
JBL has been the topic of several research reports. Stifel Nicolaus upped their price objective on Jabil from $90.00 to $105.00 in a research note on Monday, June 12th. VNET Group reiterated a “maintains” rating on shares of Jabil in a research report on Friday, June 16th. JPMorgan Chase & Co. began coverage on Jabil in a research report on Wednesday, July 5th. They set an “overweight” rating and a $110.00 price target on the stock. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Bank of America increased their price objective on Jabil from $91.00 to $108.00 in a report on Monday, June 12th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.88.
Jabil Stock Performance
Jabil (NYSE:JBL – Get Free Report) last issued its quarterly earnings results on Thursday, June 15th. The technology company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.12. The firm had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.20 billion. Jabil had a return on equity of 39.61% and a net margin of 2.77%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company posted $1.52 EPS. Research analysts forecast that Jabil Inc. will post 7.94 EPS for the current fiscal year.
Jabil Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Monday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, May 12th. Jabil’s dividend payout ratio is presently 4.51%.
Insider Transactions at Jabil
In other news, Director Anousheh Ansari sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $108.61, for a total transaction of $325,830.00. Following the completion of the sale, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $4,127,180. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.75% 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).
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