Pinnacle Wealth Planning Services Inc. purchased a new stake in Jabil, Inc. (NYSE:JBL – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,308 shares of the technology company’s stock, valued at approximately $285,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of JBL. GFG Capital LLC acquired a new position in shares of Jabil in the second quarter worth about $26,000. Assetmark Inc. raised its holdings in shares of Jabil by 45.8% during the second quarter. Assetmark Inc. now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 49 shares during the period. Westside Investment Management Inc. lifted its position in shares of Jabil by 757.1% in the 2nd quarter. Westside Investment Management Inc. now owns 180 shares of the technology company’s stock valued at $39,000 after acquiring an additional 159 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Jabil by 45.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 189 shares of the technology company’s stock worth $41,000 after purchasing an additional 59 shares during the period. Finally, Groupe la Francaise boosted its stake in Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.
Jabil Price Performance
JBL opened at $200.34 on Thursday. The stock has a fifty day moving average price of $211.55 and a 200 day moving average price of $203.92. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.57. Jabil, Inc. has a 1 year low of $108.66 and a 1 year high of $237.14. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 1.58 and a beta of 1.26.
Jabil Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, November 17th. Jabil’s payout ratio is currently 5.37%.
Insider Activity at Jabil
In related news, EVP Kristine Melachrino sold 6,579 shares of Jabil stock in a transaction on Friday, October 24th. The shares were sold at an average price of $213.40, for a total value of $1,403,958.60. Following the completion of the sale, the executive vice president owned 33,718 shares of the company’s stock, valued at approximately $7,195,421.20. The trade was a 16.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory B. Hebard sold 6,086 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $213.54, for a total transaction of $1,299,604.44. Following the completion of the sale, the chief financial officer owned 58,526 shares of the company’s stock, valued at $12,497,642.04. This represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 131,762 shares of company stock worth $27,886,321 over the last quarter. 1.73% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Bank of America boosted their target price on shares of Jabil from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Jabil in a report on Tuesday, October 14th. Raymond James Financial set a $260.00 price target on Jabil in a research report on Thursday, September 25th. UBS Group set a $241.00 price objective on Jabil in a research report on Sunday, September 28th. Finally, Barclays lifted their target price on Jabil from $223.00 to $267.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.43.
Read Our Latest Stock Report on Jabil
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).
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