Mediolanum International Funds Ltd Purchases New Shares in Jabil Inc. (NYSE:JBL)

Mediolanum International Funds Ltd purchased a new stake in Jabil Inc. (NYSE:JBLFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 58,417 shares of the technology company’s stock, valued at approximately $7,941,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Jabil in the 4th quarter worth approximately $192,964,000. Vanguard Group Inc. lifted its holdings in Jabil by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after acquiring an additional 1,427,429 shares during the period. Artisan Partners Limited Partnership increased its position in Jabil by 36.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after buying an additional 359,818 shares in the last quarter. Ceredex Value Advisors LLC increased its position in Jabil by 72,212.5% in the fourth quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock worth $36,850,000 after buying an additional 288,850 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Jabil by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock valued at $141,577,000 after buying an additional 249,889 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of JBL stock traded up $3.72 during trading hours on Wednesday, reaching $113.73. The company had a trading volume of 1,125,274 shares, compared to its average volume of 1,484,990. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a fifty day moving average of $116.06 and a 200-day moving average of $126.80. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.96 and a beta of 1.27. Jabil Inc. has a 12-month low of $100.18 and a 12-month high of $156.94.

Jabil (NYSE:JBLGet Free Report) last posted its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The business’s revenue was down 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. On average, equities analysts anticipate that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were given a $0.08 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.32 annualized dividend and a yield of 0.28%. Jabil’s payout ratio is 2.91%.

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now directly owns 339,725 shares in the company, valued at $45,591,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JBL shares. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Barclays decreased their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. cut their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Bank of America dropped their target price on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.63.

View Our Latest Analysis on JBL

About Jabil

(Free Report)

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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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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