Raymond James & Associates Boosts Stock Holdings in Jabil Inc. (NYSE:JBL)

Raymond James & Associates lifted its stake in Jabil Inc. (NYSE:JBL) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,108 shares of the technology company’s stock after purchasing an additional 7,046 shares during the period. Raymond James & Associates’ holdings in Jabil were worth $13,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ORG Partners LLC acquired a new stake in Jabil in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Jabil during the second quarter worth approximately $28,000. Innealta Capital LLC acquired a new stake in Jabil in the second quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in Jabil in the second quarter worth approximately $37,000. Finally, Matrix Trust Co grew its holdings in Jabil by 135.4% during the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after acquiring an additional 214 shares in the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JBL shares. Bank of America raised their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays increased their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the sale, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew Crowley sold 2,271 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $123.54, for a total transaction of $280,559.34. Following the completion of the transaction, the executive vice president now owns 15,564 shares in the company, valued at approximately $1,922,776.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,651 shares of company stock valued at $929,005 in the last ninety days. 2.62% of the stock is currently owned by company insiders.

Jabil Stock Performance

NYSE JBL opened at $124.72 on Monday. The company has a fifty day moving average of $114.27 and a two-hundred day moving average of $114.79. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a market capitalization of $14.15 billion, a PE ratio of 11.32, a P/E/G ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business’s revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. As a group, analysts expect that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

About Jabil

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).