9,277 Shares in Jabil, Inc. (NYSE:JBL) Bought by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new position in Jabil, Inc. (NYSE:JBL) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,277 shares of the technology company’s stock, valued at approximately $1,262,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in shares of Jabil by 88.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,332 shares of the technology company’s stock worth $862,000 after purchasing an additional 2,969 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Jabil in the first quarter worth about $2,960,000. Brighton Jones LLC lifted its holdings in Jabil by 10.7% in the first quarter. Brighton Jones LLC now owns 2,026 shares of the technology company’s stock worth $276,000 after buying an additional 196 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Jabil by 40.4% in the first quarter. Exchange Traded Concepts LLC now owns 4,454 shares of the technology company’s stock worth $606,000 after buying an additional 1,282 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of Jabil by 4.5% in the 1st quarter. Ritholtz Wealth Management now owns 15,788 shares of the technology company’s stock valued at $2,148,000 after purchasing an additional 683 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JBL. The Goldman Sachs Group raised their target price on Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. lowered their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. UBS Group lifted their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Barclays lifted their price target on shares of Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and an average target price of $169.17.

Jabil Price Performance

JBL opened at $196.42 on Wednesday. The stock has a 50-day moving average price of $157.94 and a 200-day moving average price of $151.63. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.02 and a quick ratio of 0.66. The firm has a market cap of $21.09 billion, a PE ratio of 46.99, a P/E/G ratio of 1.76 and a beta of 1.14. Jabil, Inc. has a 1 year low of $95.85 and a 1 year high of $203.90.

Jabil (NYSE:JBL) last issued its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 1.76% and a return on equity of 49.64%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Sell-side analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.16%. Jabil’s payout ratio is currently 7.66%.

Insider Transactions at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the transaction, the chairman now directly owns 1,710,192 shares of the company’s stock, valued at $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $7,665,200 over the last quarter. 1.73% of the stock is currently owned by 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).