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Sumitomo Mitsui Trust Group Inc. decreased its stake in Jabil, Inc. (NYSE:JBL – Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,130 shares of the technology company’s stock after selling 3,311 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Jabil worth $34,443,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Jabil in the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new position in Jabil in the 1st quarter worth $27,000. Murphy & Mullick Capital Management Corp purchased a new position in Jabil in the 4th quarter valued at about $29,000. Harbor Capital Advisors Inc. grew its stake 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. Finally, Millstone Evans Group LLC purchased a new position in shares of Jabil during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.
Insider Buying and Selling
In other news, EVP Steven D. Borges sold 22,443 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the sale, the executive vice president directly owned 102,803 shares of the company’s stock, valued at $20,561,628.03. This trade represents a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Dastoor sold 18,234 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 203,459 shares of the company’s stock, valued at approximately $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,431 shares of company stock worth $60,571,609. 1.73% of the stock is owned by insiders.
Jabil Price Performance
NYSE JBL opened at $222.19 on Thursday. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $222.36. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The company has a 50-day moving average price of $175.18 and a two-hundred day moving average price of $157.42. 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 (NYSE:JBL – Get Free Report) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $1.89 earnings per share. Analysts forecast that Jabil, Inc. will post 8.05 EPS for the current year.
Jabil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.14%. Jabil’s dividend payout ratio (DPR) is 6.21%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. UBS Group upped their price objective on Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, June 18th. The Goldman Sachs Group increased their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Argus upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. upped their target price on Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a report on Wednesday, June 18th. Finally, Bank of America raised their price target on Jabil from $225.00 to $245.00 and gave the stock 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $225.71.
Get Our Latest Report on Jabil
Jabil 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).
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