Allspring Global Investments Holdings LLC Increases Stock Holdings in Jabil Inc. (NYSE:JBL)

Allspring Global Investments Holdings LLC raised its holdings in Jabil Inc. (NYSE:JBL) by 30.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 331,373 shares of the technology company’s stock after buying an additional 76,573 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.27% of Jabil worth $44,387,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Alaska Permanent Fund Corp acquired a new position in shares of Jabil in the 4th quarter valued at $29,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Jabil in the fourth quarter valued at about $32,000. Riverview Trust Co purchased a new position in shares of Jabil in the first quarter worth about $33,000. CVA Family Office LLC purchased a new stake in Jabil in the fourth quarter valued at approximately $36,000. Finally, Valley National Advisers Inc. acquired a new position in Jabil in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on JBL. Bank of America dropped their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. UBS Group lowered their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Barclays reduced their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.63.

Insider Buying and Selling

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now owns 29,006 shares in the company, valued at approximately $4,050,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Jabil Stock Performance

Shares of JBL stock opened at $110.10 on Thursday. The company has a market capitalization of $13.28 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.94 and a beta of 1.27. The business’s 50 day moving average is $116.76 and its two-hundred day moving average is $127.37. 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 12-month low of $100.18 and a 12-month high of $156.94.

Jabil (NYSE:JBL) last announced its 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. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same quarter last year, the firm posted $1.85 EPS. The business’s revenue was down 20.2% on a year-over-year basis. Analysts expect that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

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).