Park Avenue Securities LLC Boosts Stock Position in Jabil Inc. (NYSE:JBL)

Park Avenue Securities LLC grew its holdings in Jabil Inc. (NYSE:JBL) by 11.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,860 shares of the technology company’s stock after buying an additional 194 shares during the quarter. Park Avenue Securities LLC’s holdings in Jabil were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JBL. Alaska Permanent Fund Corp purchased a new stake in shares of Jabil during the fourth quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Jabil during the fourth quarter worth approximately $32,000. CVA Family Office LLC purchased a new stake in shares of Jabil during the fourth quarter worth approximately $36,000. Valley National Advisers Inc. purchased a new stake in shares of Jabil during the fourth quarter worth approximately $36,000. Finally, Principal Securities Inc. purchased a new stake in shares of Jabil during the fourth quarter worth approximately $51,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Jabil

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was 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 owns 339,725 shares in the company, valued at approximately $45,591,095. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total value of $406,860.00. Following the transaction, the executive vice president now owns 65,434 shares in the company, valued at approximately $8,874,159.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares in the company, valued at approximately $45,591,095. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,877 shares of company stock worth $3,519,883. 2.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on JBL shares. Argus cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America lowered their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. The Goldman Sachs Group boosted their price objective on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Barclays lowered their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.63.

Jabil Price Performance

JBL stock opened at $108.47 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $13.08 billion, a PE ratio of 9.87, a P/E/G ratio of 1.94 and a beta of 1.35. Jabil Inc. has a 12-month low of $100.18 and a 12-month high of $156.94. The business’s fifty day moving average price is $117.21 and its 200 day moving average price is $127.66.

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

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. Jabil’s dividend payout ratio is presently 2.91%.

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).