CIBC Asset Management Inc Grows Stock Holdings in Jabil, Inc. $JBL

CIBC Asset Management Inc raised its position in shares of Jabil, Inc. (NYSE:JBL) by 75.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,823 shares of the technology company’s stock after buying an additional 11,124 shares during the period. CIBC Asset Management Inc’s holdings in Jabil were worth $5,888,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of JBL. Integrated Wealth Concepts LLC lifted its position in shares of Jabil by 34.4% during the first quarter. Integrated Wealth Concepts LLC now owns 2,811 shares of the technology company’s stock valued at $382,000 after buying an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Jabil by 70.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,320 shares of the technology company’s stock valued at $2,493,000 after buying an additional 7,602 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Jabil by 20.0% during the first quarter. Focus Partners Wealth now owns 4,967 shares of the technology company’s stock valued at $676,000 after buying an additional 829 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Jabil by 50.0% during the first quarter. Geneos Wealth Management Inc. now owns 582 shares of the technology company’s stock valued at $79,000 after buying an additional 194 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Jabil during the second quarter valued at about $488,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael Dastoor sold 9,467 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $286.64, for a total value of $2,713,620.88. Following the transaction, the chief executive officer owned 253,099 shares in the company, valued at approximately $72,548,297.36. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Priestley sold 4,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $301.00, for a total transaction of $1,204,000.00. Following the completion of the transaction, the executive vice president owned 60,267 shares in the company, valued at approximately $18,140,367. This trade represents a 6.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 37,981 shares of company stock worth $11,360,740 in the last quarter. 1.35% of the stock is currently owned by corporate insiders.

Jabil Stock Performance

JBL opened at $353.05 on Friday. Jabil, Inc. has a 52-week low of $174.00 and a 52-week high of $384.70. The company has a quick ratio of 0.68, a current ratio of 1.01 and a debt-to-equity ratio of 2.50. The company has a market cap of $37.25 billion, a P/E ratio of 47.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The firm’s 50-day moving average price is $328.74 and its 200-day moving average price is $270.56.

Jabil (NYSE:JBL) last issued its earnings results on Wednesday, March 18th. The technology company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.18. Jabil had a return on equity of 80.96% and a net margin of 2.48%.The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Jabil’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities analysts anticipate that Jabil, Inc. will post 11.3 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, May 15th. Jabil’s dividend payout ratio is 4.30%.

Wall Street Analysts Forecast Growth

Several analysts have commented on JBL shares. Barclays increased their price target on shares of Jabil from $283.00 to $304.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Zacks Research downgraded shares of Jabil from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Bank of America upped their price objective on shares of Jabil from $295.00 to $354.00 and gave the company a “buy” rating in a report on Monday, April 20th. Wall Street Zen downgraded shares of Jabil from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Robert W. Baird upped their price objective on shares of Jabil from $275.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.38.

About Jabil

Jabil Inc (NYSE: JBL) is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil’s expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.