Moran Wealth Management LLC Grows Holdings in Jabil, Inc. (NYSE:JBL)

Moran Wealth Management LLC increased its position in shares of Jabil, Inc. (NYSE:JBL) by 94.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,630 shares of the technology company’s stock after buying an additional 21,207 shares during the period. Moran Wealth Management LLC’s holdings in Jabil were worth $5,937,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in JBL. Allworth Financial LP grew its holdings in Jabil by 38.9% during the 4th quarter. Allworth Financial LP now owns 432 shares of the technology company’s stock worth $62,000 after acquiring an additional 121 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Jabil by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after acquiring an additional 5,993 shares in the last quarter. Truist Financial Corp grew its holdings in Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Jabil during the 4th quarter worth $1,109,000. Finally, Global Retirement Partners LLC grew its holdings in Jabil by 105.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,023 shares of the technology company’s stock worth $147,000 after acquiring an additional 525 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Jabil

In related news, SVP Francis Mckay sold 3,395 shares of Jabil stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $205.48, for a total transaction of $697,604.60. Following the sale, the senior vice president now directly owns 38,112 shares in the company, valued at $7,831,253.76. The trade was a 8.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anousheh Ansari sold 2,500 shares of Jabil stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $207.57, for a total transaction of $518,925.00. Following the sale, the director now owns 37,400 shares in the company, valued at approximately $7,763,118. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,476 shares of company stock worth $52,780,286. 1.73% of the stock is owned by insiders.

Jabil Stock Performance

JBL stock opened at $211.84 on Wednesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The stock has a market capitalization of $22.74 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 1.46 and a beta of 1.14. Jabil, Inc. has a 1 year low of $95.85 and a 1 year high of $213.53. The stock’s fifty day moving average is $165.22 and its two-hundred day moving average is $154.11.

Jabil (NYSE:JBL) last posted 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. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. On average, research analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil’s payout ratio is 6.21%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JBL. JPMorgan Chase & Co. raised their price objective on shares of Jabil from $180.00 to $214.00 and gave the stock an “overweight” rating in a report on Wednesday, June 18th. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Barclays boosted their price objective on shares of Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. UBS Group increased their price objective on shares of Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 18th. Finally, The Goldman Sachs Group raised their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a 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 given a strong buy rating to the stock. According to data from MarketBeat, Jabil has a consensus rating of “Buy” and an average target price of $213.57.

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).