Citigroup Inc. boosted its stake in shares of Jabil Inc. (NYSE:JBL – Free Report) by 24.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,596 shares of the technology company’s stock after purchasing an additional 25,419 shares during the period. Citigroup Inc. owned approximately 0.10% of Jabil worth $13,879,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of JBL. Fiduciary Alliance LLC purchased a new position in Jabil during the second quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Jabil in the first quarter worth $31,000. Amundi increased its position in shares of Jabil by 419.8% in the fourth quarter. Amundi now owns 421 shares of the technology company’s stock worth $32,000 after acquiring an additional 340 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Jabil in the first quarter worth $40,000. Finally, Crewe Advisors LLC increased its position in shares of Jabil by 73.3% in the second quarter. Crewe Advisors LLC now owns 390 shares of the technology company’s stock worth $42,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on JBL shares. Stifel Nicolaus increased their price objective on shares of Jabil from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Barclays increased their price objective on shares of Jabil from $134.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, September 29th. Raymond James raised their price target on shares of Jabil from $120.00 to $160.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 11th. Finally, Argus raised their price target on shares of Jabil from $125.00 to $145.00 in a report on Friday, September 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.00.
Insider Transactions at Jabil
In other news, CEO Kenneth S. Wilson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $126.32, for a total value of $2,526,400.00. Following the transaction, the chief executive officer now directly owns 364,725 shares in the company, valued at approximately $46,072,062. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Kenneth S. Wilson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $126.32, for a total value of $2,526,400.00. Following the transaction, the chief executive officer now directly owns 364,725 shares in the company, valued at approximately $46,072,062. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas A. Sansone sold 19,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $120.42, for a total transaction of $2,287,980.00. Following the completion of the transaction, the director now owns 374,325 shares in the company, valued at $45,076,216.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,601 shares of company stock worth $40,201,576. 2.75% of the stock is currently owned by insiders.
Jabil Trading Up 0.8 %
NYSE JBL opened at $132.42 on Tuesday. Jabil Inc. has a 12 month low of $64.74 and a 12 month high of $141.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.16 and a quick ratio of 0.75. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41. The company’s fifty day moving average price is $123.71 and its two-hundred day moving average price is $109.56.
Jabil (NYSE:JBL – Get Free Report) last posted its quarterly earnings data on Thursday, September 28th. The technology company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.13. Jabil had a net margin of 2.36% and a return on equity of 38.02%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the prior year, the firm posted $2.25 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. As a group, research analysts predict that Jabil Inc. will post 8.67 earnings per share for the current fiscal year.
Jabil Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Wednesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s payout ratio is currently 5.33%.
Jabil announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 28th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 15.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Jabil Company 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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