Kempen Capital Management N.V. lifted its holdings in Jabil Inc (NYSE:JBL) by 16.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,951 shares of the technology company’s stock after acquiring an additional 23,000 shares during the period. Kempen Capital Management N.V. owned approximately 0.09% of Jabil worth $4,595,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Jabil by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 764,370 shares of the technology company’s stock worth $21,960,000 after acquiring an additional 9,029 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Jabil by 48.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 20,348 shares of the technology company’s stock worth $585,000 after acquiring an additional 6,600 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Jabil by 439.8% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 327,953 shares of the technology company’s stock worth $9,422,000 after acquiring an additional 267,200 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Jabil in the 1st quarter worth about $835,000. Finally, Sentinel Trust Co. LBA bought a new position in shares of Jabil in the 1st quarter worth about $933,000. 88.00% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. Standpoint Research raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Zacks Investment Research lowered Jabil from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.00.
Jabil (NYSE:JBL) last issued its earnings results on Thursday, June 14th. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. Jabil had a return on equity of 15.68% and a net margin of 0.89%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. sell-side analysts forecast that Jabil Inc will post 2.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.18%. Jabil’s dividend payout ratio (DPR) is currently 17.30%.
Jabil declared that its board has initiated a share repurchase plan on Thursday, June 14th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the technology company to buy up to 7.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In other Jabil news, Director Thomas A. Sansone sold 15,000 shares of Jabil stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $29.88, for a total transaction of $448,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President William E. Peters sold 13,915 shares of Jabil stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $28.64, for a total value of $398,525.60. The disclosure for this sale can be found here. Insiders have sold a total of 56,745 shares of company stock valued at $1,606,067 in the last quarter. Company insiders own 2.60% of the company’s stock.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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