Wealthfront Advisers LLC raised its position in Jabil, Inc. (NYSE:JBL – Free Report) by 17.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,431 shares of the technology company’s stock after purchasing an additional 365 shares during the period. Wealthfront Advisers LLC’s holdings in Jabil were worth $530,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of JBL. GFG Capital LLC acquired a new stake in Jabil during the 2nd quarter valued at $26,000. Groupe la Francaise boosted its holdings in shares of Jabil by 35.2% during the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Jabil by 58.1% during the second quarter. Financial Management Professionals Inc. now owns 264 shares of the technology company’s stock worth $58,000 after purchasing an additional 97 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of Jabil by 31.8% during the second quarter. Activest Wealth Management now owns 278 shares of the technology company’s stock worth $61,000 after purchasing an additional 67 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Jabil during the second quarter worth $71,000. Institutional investors and hedge funds own 93.39% of the company’s stock.
Jabil Stock Down 0.2%
Shares of NYSE JBL opened at $221.11 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.66 and a current ratio of 1.00. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 1.58 and a beta of 1.26. Jabil, Inc. has a 1 year low of $108.66 and a 1 year high of $237.14. The stock’s 50-day simple moving average is $211.10 and its 200-day simple moving average is $197.71.
Jabil Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Monday, November 17th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Monday, November 17th. Jabil’s payout ratio is currently 5.37%.
Analyst Ratings Changes
Several research firms have recently issued reports on JBL. Barclays raised their price objective on Jabil from $223.00 to $267.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Jabil in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on Jabil from $214.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Raymond James Financial set a $260.00 price objective on Jabil in a research report on Thursday, September 25th. Finally, UBS Group set a $241.00 price objective on Jabil in a research report on Sunday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.43.
Read Our Latest Research Report on JBL
Insider Buying and Selling
In other Jabil news, CFO Gregory B. Hebard sold 6,086 shares of Jabil stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $213.54, for a total value of $1,299,604.44. Following the completion of the transaction, the chief financial officer directly owned 58,526 shares in the company, valued at $12,497,642.04. The trade was a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristine Melachrino sold 6,579 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $213.40, for a total value of $1,403,958.60. Following the transaction, the executive vice president owned 33,718 shares of the company’s stock, valued at approximately $7,195,421.20. This represents a 16.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 102,451 shares of company stock valued at $21,376,432 over the last 90 days. 1.73% of the stock is owned by corporate 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).
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