Resonant Capital Advisors LLC Purchases 325 Shares of Jabil Inc. (NYSE:JBL)

Resonant Capital Advisors LLC increased its position in shares of Jabil Inc. (NYSE:JBL) by 19.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,986 shares of the technology company’s stock after buying an additional 325 shares during the period. Resonant Capital Advisors LLC’s holdings in Jabil were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in Jabil by 13.0% in the 4th quarter. Wells Fargo & Company MN now owns 154,314 shares of the technology company’s stock valued at $19,660,000 after purchasing an additional 17,766 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Jabil by 36.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock valued at $170,660,000 after purchasing an additional 359,818 shares during the period. Cetera Investment Advisers boosted its holdings in Jabil by 141.7% in the 1st quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after purchasing an additional 10,173 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Jabil by 30.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock valued at $44,387,000 after purchasing an additional 76,573 shares during the period. Finally, Tobam bought a new stake in Jabil in the 1st quarter valued at $1,692,000. 93.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on JBL shares. Bank of America reduced their price target on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. 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. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Barclays dropped their price objective 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.13.

Jabil Trading Down 5.4 %

Shares of Jabil stock opened at $103.41 on Wednesday. The stock has a market capitalization of $11.73 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $108.43 and a 200 day simple moving average of $120.88. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter last year, the company posted $1.85 EPS. Research analysts expect 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 will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is currently 2.91%.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by corporate insiders.

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).