Bank of New York Mellon Corp Increases Stock Position in Jabil Inc. (NYSE:JBL)

Bank of New York Mellon Corp increased its stake in shares of Jabil Inc. (NYSE:JBL) by 29.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,383,062 shares of the technology company’s stock after purchasing an additional 310,590 shares during the period. Bank of New York Mellon Corp owned approximately 1.22% of Jabil worth $150,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC grew its holdings in Jabil by 16.0% during the second quarter. Ceredex Value Advisors LLC now owns 402,850 shares of the technology company’s stock valued at $43,826,000 after purchasing an additional 55,450 shares during the period. LRI Investments LLC increased its stake in Jabil by 11.1% in the 2nd quarter. LRI Investments LLC now owns 2,673 shares of the technology company’s stock worth $291,000 after buying an additional 267 shares in the last quarter. Family Firm Inc. bought a new stake in Jabil during the second quarter valued at about $37,000. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Jabil by 23.2% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 594,138 shares of the technology company’s stock valued at $64,636,000 after buying an additional 111,928 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Jabil by 6.3% during the second quarter. Fifth Third Bancorp now owns 3,427 shares of the technology company’s stock valued at $373,000 after buying an additional 202 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Trading Up 0.2 %

Shares of JBL opened at $108.70 on Tuesday. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.95 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The company has a 50-day moving average of $109.64 and a 200 day moving average of $122.26.

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

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date is Thursday, August 15th. Jabil’s payout ratio is 2.91%.

Analyst Ratings Changes

Several brokerages have weighed in on JBL. Bank of America reduced 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. JPMorgan Chase & Co. cut their target price on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. UBS Group reduced their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Finally, Barclays dropped their price target 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. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.63.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.

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).