Lord Abbett & CO. LLC Purchases New Shares in Jabil, Inc. (NYSE:JBL)

Lord Abbett & CO. LLC purchased a new position in shares of Jabil, Inc. (NYSE:JBL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 598,063 shares of the technology company’s stock, valued at approximately $81,378,000. Lord Abbett & CO. LLC owned 0.56% of Jabil at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of JBL. Creative Financial Designs Inc. ADV purchased a new position in Jabil during the 1st quarter worth $27,000. Harbor Capital Advisors Inc. increased its position in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Jabil by 2,400.0% during the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock worth $37,000 after buying an additional 264 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Jabil by 3,411.1% in the 4th quarter. True Wealth Design LLC now owns 316 shares of the technology company’s stock valued at $45,000 after buying an additional 307 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Jabil in the first quarter valued at approximately $52,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of NYSE JBL opened at $219.18 on Thursday. The stock has a market capitalization of $23.52 billion, a P/E ratio of 42.56, a P/E/G ratio of 1.61 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 $99.67 and a 52-week high of $232.84. The firm’s 50-day moving average price is $212.70 and its two-hundred day moving average price is $172.03.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. As a group, sell-side analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be issued a dividend of $0.08 per share. This represents a yield of 14.0%. The ex-dividend date is Friday, August 15th. Jabil’s payout ratio is presently 6.21%.

Insider Activity

In other Jabil news, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total transaction of $222,750.00. Following the transaction, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. The trade was a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $223.11, for a total value of $2,996,813.52. Following the completion of the sale, the director owned 86,396 shares of the company’s stock, valued at $19,275,811.56. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 332,847 shares of company stock worth $66,534,847. 1.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on JBL shares. Wall Street Zen cut shares of Jabil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Raymond James Financial reiterated a “strong-buy” rating and set a $230.00 price objective (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Bank of America boosted their price target on Jabil from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 20th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group boosted their price target on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $231.71.

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).