Jabil Inc. (NYSE:JBL) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,396 shares of the technology company’s stock after purchasing an additional 1,847 shares during the quarter. SteelPeak Wealth LLC’s holdings in Jabil were worth $1,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JBL. Czech National Bank boosted its position in Jabil by 0.3% during the 1st quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock worth $3,006,000 after acquiring an additional 73 shares during the period. Beacon Pointe Advisors LLC boosted its position in shares of Jabil by 2.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock valued at $430,000 after acquiring an additional 83 shares during the period. Mackenzie Financial Corp boosted its holdings in Jabil by 0.9% in the 4th quarter. Mackenzie Financial Corp now owns 10,258 shares of the technology company’s stock valued at $1,307,000 after purchasing an additional 90 shares during the period. Field & Main Bank grew its position in Jabil by 5.6% during the fourth quarter. Field & Main Bank now owns 1,875 shares of the technology company’s stock worth $239,000 after buying an additional 100 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Jabil by 15.3% during the 2nd quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock worth $87,000 after purchasing an additional 106 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Price Performance

Shares of Jabil stock traded up $3.89 on Thursday, reaching $107.08. 1,376,159 shares of the stock were exchanged, compared to its average volume of 1,470,370. The firm’s 50 day moving average is $111.40 and its 200-day moving average is $123.55. The firm has a market cap of $12.15 billion, a PE ratio of 9.40, a P/E/G ratio of 1.95 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $6.77 billion for 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%. Jabil’s revenue was down 20.2% compared to the same quarter last year. During the same period last year, the firm posted $1.85 earnings per share. As a group, analysts anticipate that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. Jabil’s dividend payout ratio is currently 2.91%.

Insider Transactions at Jabil

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

Analyst Ratings Changes

Several analysts have recently weighed in on JBL shares. Barclays decreased their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Bank of America reduced their target price on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 17th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, UBS Group lowered their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Jabil Company 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).