Retireful LLC Takes Position in Jabil Inc. (NYSE:JBL)

Retireful LLC acquired a new position in shares of Jabil Inc. (NYSE:JBL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,326 shares of the technology company’s stock, valued at approximately $1,132,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC acquired a new stake in shares of Jabil during the 4th quarter valued at $303,000. DAVENPORT & Co LLC bought a new stake in shares of Jabil during the fourth quarter worth about $236,000. ARGA Investment Management LP acquired a new position in shares of Jabil in the fourth quarter valued at approximately $501,000. Guidance Capital Inc. bought a new position in shares of Jabil during the fourth quarter worth about $754,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Jabil by 52.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,737 shares of the technology company’s stock valued at $1,712,000 after purchasing an additional 4,045 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Down 0.7%

JBL stock opened at $171.80 on Thursday. The stock has a market cap of $18.44 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.65 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock’s fifty day simple moving average is $148.62 and its two-hundred day simple moving average is $148.51. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm earned $1.68 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.19%. Jabil’s payout ratio is currently 7.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on JBL shares. The Goldman Sachs Group decreased their target price on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. decreased their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. UBS Group raised their price objective on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Barclays increased their target price on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and a consensus target price of $158.50.

Insider Buying and Selling

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the sale, the chairman now owns 1,710,192 shares in the company, valued at $285,174,516. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock valued at $7,665,200. 1.73% of the stock is owned by company insiders.

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).