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Robeco Institutional Asset Management B.V. boosted its holdings in shares of Jabil, Inc. (NYSE:JBL – Free Report) by 84.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,568 shares of the technology company’s stock after acquiring an additional 6,225 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Jabil were worth $1,846,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in 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 valued at $835,876,000 after purchasing an additional 5,800,535 shares during the period. Norges Bank purchased a new stake in Jabil during the fourth quarter worth approximately $218,430,000. Point72 Asset Management L.P. grew its stake in Jabil by 1,007.6% during the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock worth $138,954,000 after buying an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Jabil by 16,190.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company’s stock worth $79,539,000 after buying an additional 549,347 shares during the period. Finally, GAMMA Investing LLC grew its stake in Jabil by 17,410.3% during the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company’s stock worth $71,431,000 after buying an additional 521,960 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on JBL shares. JPMorgan Chase & Co. upped their target price on shares of Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a research note on Wednesday, June 18th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. UBS Group upped their price target on shares of Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. Barclays upped their price target on shares of Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Finally, Bank of America upped their price target on shares of Jabil from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 20th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $213.57.
Check Out Our Latest Report on Jabil
Jabil Stock Performance
Shares of JBL opened at $216.05 on Wednesday. The firm has a 50-day moving average price of $173.51 and a 200 day moving average price of $156.97. The firm has a market capitalization of $23.19 billion, a PE ratio of 41.95, a P/E/G ratio of 1.53 and a beta of 1.20. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 52-week low of $95.85 and a 52-week high of $219.00.
Jabil (NYSE:JBL – Get Free Report) last announced its 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. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. Jabil’s revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.
Jabil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, May 15th. Jabil’s payout ratio is presently 6.21%.
Insider Activity
In other Jabil news, CEO Michael Dastoor sold 18,234 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the transaction, the chief executive officer owned 203,459 shares in the company, valued at $38,994,951.94. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the transaction, the executive vice president owned 102,803 shares in the company, valued at approximately $20,561,628.03. This trade represents a 17.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 296,431 shares of company stock valued at $56,239,809. 1.73% of the stock is currently owned by company insiders.
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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