Pacer Advisors Inc. Purchases Shares of 56,011 Jabil Inc (NYSE:JBL)
Pacer Advisors Inc. purchased a new stake in shares of Jabil Inc (NYSE:JBL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 56,011 shares of the technology company’s stock, valued at approximately $1,770,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp raised its position in Jabil by 8.8% in the second quarter. M&T Bank Corp now owns 20,709 shares of the technology company’s stock worth $655,000 after acquiring an additional 1,681 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Jabil by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 850,455 shares of the technology company’s stock worth $26,875,000 after purchasing an additional 22,183 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Jabil in the 2nd quarter worth $2,442,000. Atria Investments LLC purchased a new stake in shares of Jabil in the 2nd quarter worth $7,124,000. Finally, Prudential Financial Inc. raised its holdings in Jabil by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 1,254,225 shares of the technology company’s stock worth $39,633,000 after purchasing an additional 58,820 shares during the period. 88.85% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Courtney J. Ryan sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.00, for a total transaction of $640,000.00. Following the completion of the sale, the executive vice president now owns 316,909 shares in the company, valued at $10,141,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Loparco sold 3,500 shares of Jabil stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $31.50, for a total value of $110,250.00. Following the sale, the chief executive officer now directly owns 282,943 shares in the company, valued at approximately $8,912,704.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,500 shares of company stock worth $1,158,595. Insiders own 2.90% of the company’s stock.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Tuesday, June 18th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. Jabil had a net margin of 0.72% and a return on equity of 18.57%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same period in the prior year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts forecast that Jabil Inc will post 2.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Jabil’s dividend payout ratio is presently 14.75%.
Several equities analysts recently weighed in on JBL shares. Citigroup upgraded Jabil from a “sell” rating to a “buy” rating and lifted their target price for the company from $27.00 to $36.00 in a research report on Thursday, August 29th. Zacks Investment Research cut Jabil from a “hold” rating to a “sell” rating and set a $29.00 price target for the company. in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $31.33.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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