Affinity Investment Advisors LLC reduced its position in Jabil Inc. (NYSE:JBL – Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,379 shares of the technology company’s stock after selling 1,065 shares during the period. Jabil comprises 0.9% of Affinity Investment Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Affinity Investment Advisors LLC’s holdings in Jabil were worth $1,708,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Analysts LLC boosted its position in shares of Jabil by 21.2% in the first quarter. Capital Analysts LLC now owns 914 shares of the technology company’s stock worth $81,000 after buying an additional 160 shares during the period. Artemis Investment Management LLP increased its holdings in Jabil by 60.5% during the 1st quarter. Artemis Investment Management LLP now owns 182,414 shares of the technology company’s stock worth $16,054,000 after purchasing an additional 68,789 shares during the last quarter. Lmcg Investments LLC raised its stake in shares of Jabil by 1.2% in the 1st quarter. Lmcg Investments LLC now owns 128,365 shares of the technology company’s stock valued at $11,317,000 after purchasing an additional 1,494 shares in the last quarter. Commerce Bank lifted its stake in Jabil by 8.9% during the first quarter. Commerce Bank now owns 10,232 shares of the technology company’s stock worth $902,000 after purchasing an additional 835 shares during the last quarter. Finally, Summit Global Investments bought a new position in Jabil during the first quarter worth $1,484,000. Institutional investors and hedge funds own 91.90% of the company’s stock.
Jabil Stock Performance
Jabil stock traded up $0.67 on Thursday, reaching $108.87. 402,485 shares of the stock were exchanged, compared to its average volume of 1,178,079. The stock has a market cap of $14.25 billion, a PE ratio of 15.24, a PEG ratio of 1.14 and a beta of 1.47. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Jabil Inc. has a twelve month low of $55.26 and a twelve month high of $115.25. The firm has a fifty day moving average price of $104.14 and a two-hundred day moving average price of $89.54.
Jabil (NYSE:JBL – Get Free Report) last announced its quarterly earnings results on Thursday, June 15th. The technology company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.12. Jabil had a net margin of 2.77% and a return on equity of 39.61%. The firm had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter last year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Jabil Inc. will post 7.94 EPS for the current year.
Jabil Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. Jabil’s dividend payout ratio is presently 4.51%.
Insiders Place Their Bets
In related news, Director Anousheh Ansari sold 3,000 shares of Jabil stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $108.61, for a total value of $325,830.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $4,127,180. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.75% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on JBL. JPMorgan Chase & Co. began coverage on Jabil in a research note on Wednesday, July 5th. They set an “overweight” rating and a $110.00 price objective on the stock. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America raised their target price on Jabil from $91.00 to $108.00 in a research report on Monday, June 12th. Stifel Nicolaus raised their price objective on shares of Jabil from $90.00 to $105.00 in a research note on Monday, June 12th. Finally, VNET Group restated a “maintains” rating on shares of Jabil in a report on Friday, June 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $99.88.
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).