Jabil Inc. (NYSE:JBL) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,670 shares of the technology company’s stock after buying an additional 1,260 shares during the quarter. DNB Asset Management AS’s holdings in Jabil were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Jabil by 13.0% in the fourth quarter. Wells Fargo & Company MN now owns 154,314 shares of the technology company’s stock worth $19,660,000 after purchasing an additional 17,766 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Jabil by 36.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock valued at $170,660,000 after purchasing an additional 359,818 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Jabil during the fourth quarter worth $1,146,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Jabil by 30.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock valued at $44,387,000 after buying an additional 76,573 shares during the period. Finally, Tobam acquired a new stake in Jabil during the first quarter worth about $1,692,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Up 3.0 %

Shares of Jabil stock traded up $2.91 on Tuesday, reaching $100.46. 1,561,838 shares of the company were exchanged, compared to its average volume of 1,490,792. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27. The stock has a fifty day moving average price of $113.58 and a 200-day moving average price of $124.64.

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

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, August 15th. Jabil’s payout ratio is 2.91%.

Insiders Place Their Bets

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the subject of a number of analyst reports. UBS Group reduced their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Barclays lowered their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. lowered 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. Finally, Bank of America lowered their target price on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.63.

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).