Sentinel Trust Co. LBA grew its stake in shares of Jabil Inc (NYSE:JBL) by 141.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,475 shares of the technology company’s stock after purchasing an additional 46,010 shares during the quarter. Sentinel Trust Co. LBA’s holdings in Jabil were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp acquired a new stake in Jabil during the second quarter worth approximately $130,000. Cerebellum GP LLC acquired a new stake in Jabil during the second quarter worth approximately $136,000. LMR Partners LLP acquired a new stake in Jabil during the second quarter worth approximately $209,000. DekaBank Deutsche Girozentrale raised its holdings in Jabil by 269.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,705 shares of the technology company’s stock worth $220,000 after purchasing an additional 5,620 shares in the last quarter. Finally, Jump Trading LLC acquired a new stake in Jabil during the first quarter worth approximately $225,000. 89.81% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut shares of Jabil from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.00.
JBL stock opened at $29.50 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.51 and a current ratio of 1.02. Jabil Inc has a twelve month low of $23.70 and a twelve month high of $31.77. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 0.92 and a beta of 0.36.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th were issued a $0.08 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.08%. Jabil’s payout ratio is 17.30%.
Jabil declared that its Board of Directors has approved a share repurchase plan on Thursday, June 14th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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