American Century Companies Inc. Increases Stake in Jabil Inc. (NYSE:JBL)

American Century Companies Inc. increased its holdings in Jabil Inc. (NYSE:JBL) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,644 shares of the technology company’s stock after purchasing an additional 21,336 shares during the quarter. American Century Companies Inc. owned 0.19% of Jabil worth $23,895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new position in shares of Jabil during the first quarter valued at about $25,000. HHM Wealth Advisors LLC bought a new position in Jabil during the 2nd quarter worth approximately $28,000. ORG Partners LLC bought a new position in Jabil during the 1st quarter worth approximately $29,000. Innealta Capital LLC bought a new stake in Jabil in the second quarter valued at approximately $31,000. Finally, Riverview Trust Co bought a new stake in Jabil in the first quarter valued at approximately $33,000. 93.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on JBL shares. Bank of America decreased their target price on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Barclays lowered 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. UBS Group dropped their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. JPMorgan Chase & Co. reduced their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus dropped their price objective on Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

Jabil Stock Performance

Jabil stock opened at $110.86 on Friday. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.75 and a beta of 1.25. The stock’s 50 day simple moving average is $107.17 and its two-hundred day simple moving average is $118.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 earnings per share. As a group, analysts expect that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. Jabil’s payout ratio is 2.91%.

Insider Activity at Jabil

In other Jabil news, 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 transaction, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Jabil news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the sale, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction 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 transaction, 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 currently owned by corporate insiders.

Jabil 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).