Truist Financial Corp decreased its holdings in shares of Jabil Inc. (NYSE:JBL – Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the technology company’s stock after selling 2,780 shares during the period. Truist Financial Corp’s holdings in Jabil were worth $3,967,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. ST Germain D J Co. Inc. bought a new position in Jabil during the fourth quarter worth $26,000. Raleigh Capital Management Inc. increased its stake in Jabil by 391.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the technology company’s stock worth $29,000 after purchasing an additional 333 shares in the last quarter. Amundi boosted its position in Jabil by 419.8% during the 4th quarter. Amundi now owns 421 shares of the technology company’s stock worth $32,000 after acquiring an additional 340 shares during the last quarter. Endurance Wealth Management Inc. acquired a new stake in shares of Jabil in the 1st quarter valued at approximately $39,000. Finally, Zions Bancorporation N.A. bought a new position in Jabil during the 1st quarter worth $40,000. 91.90% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Jabil news, Director Anousheh Ansari sold 3,000 shares of Jabil stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $108.61, for a total transaction of $325,830.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $4,127,180. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.75% of the stock is owned by corporate insiders.
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, topping analysts’ consensus estimates of $1.87 by $0.12. The company had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.20 billion. Jabil had a net margin of 2.77% and a return on equity of 39.61%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, research analysts predict that Jabil Inc. will post 7.94 earnings per share for the current year.
Jabil Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, August 14th. Jabil’s dividend payout ratio (DPR) is 4.51%.
Analysts Set New Price Targets
Several research analysts have issued reports on JBL shares. VNET Group restated a “maintains” rating on shares of Jabil in a report on Friday, June 16th. Bank of America lifted their price objective on shares of Jabil from $91.00 to $108.00 in a research note on Monday, June 12th. Credit Suisse Group lifted their price target on shares of Jabil from $110.00 to $125.00 in a research report on Friday, June 16th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of Jabil from $90.00 to $105.00 in a research report on Monday, June 12th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.88.
Read Our Latest Stock 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).
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