SteelPeak Wealth LLC Takes $2.08 Million Position in Jabil Inc. (NYSE:JBL)

SteelPeak Wealth LLC acquired a new stake in Jabil Inc. (NYSE:JBL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 15,549 shares of the technology company’s stock, valued at approximately $2,083,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of JBL. Alaska Permanent Fund Corp bought a new position in shares of Jabil in the 4th quarter valued at about $29,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Jabil during the 4th quarter worth about $32,000. Riverview Trust Co acquired a new stake in shares of Jabil during the 1st quarter worth about $33,000. CVA Family Office LLC acquired a new stake in shares of Jabil during the 4th quarter worth about $36,000. Finally, Valley National Advisers Inc. acquired a new stake in shares of Jabil during the 4th quarter worth about $36,000. Institutional investors own 93.39% of the company’s stock.

Insider Activity at Jabil

In related news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total transaction of $406,860.00. Following the sale, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the sale, the executive vice president now directly owns 65,434 shares in the company, valued at $8,874,159.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,877 shares of company stock valued at $3,519,883. 2.62% of the stock is owned by insiders.

Jabil Price Performance

JBL stock opened at $108.79 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil Inc. has a 12 month low of $100.18 and a 12 month high of $156.94. The firm has a market cap of $13.12 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.94 and a beta of 1.27. The company’s 50-day moving average price is $117.43 and its two-hundred day moving average price is $127.86.

Jabil (NYSE:JBL) last released its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period last year, the firm earned $1.85 EPS. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, analysts anticipate that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.91%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JBL. Barclays cut their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. UBS Group dropped their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Finally, Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $142.63.

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).