PNC Financial Services Group Inc. Boosts Holdings in Jabil Inc. (NYSE:JBL)

PNC Financial Services Group Inc. grew its position in shares of Jabil Inc. (NYSE:JBLGet Rating) by 1.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,402 shares of the technology company’s stock after purchasing an additional 573 shares during the period. PNC Financial Services Group Inc.’s holdings in Jabil were worth $2,308,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in shares of Jabil during the first quarter valued at approximately $399,000. Cetera Advisor Networks LLC raised its stake in shares of Jabil by 4.7% during the first quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock valued at $246,000 after purchasing an additional 180 shares during the period. Breakline Capital LLC raised its stake in shares of Jabil by 46.9% during the first quarter. Breakline Capital LLC now owns 71,205 shares of the technology company’s stock valued at $4,395,000 after purchasing an additional 22,745 shares during the period. Greenwich Wealth Management LLC raised its stake in shares of Jabil by 4.4% during the first quarter. Greenwich Wealth Management LLC now owns 25,282 shares of the technology company’s stock valued at $1,561,000 after purchasing an additional 1,076 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of Jabil during the first quarter valued at approximately $3,066,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Gerald Creadon sold 3,703 shares of the business’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $54.76, for a total transaction of $202,776.28. Following the completion of the transaction, the senior vice president now owns 46,166 shares of the company’s stock, valued at $2,528,050.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Gerald Creadon sold 3,703 shares of the business’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $54.76, for a total transaction of $202,776.28. Following the completion of the transaction, the senior vice president now owns 46,166 shares of the company’s stock, valued at $2,528,050.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert L. Katz sold 10,423 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $59.29, for a total transaction of $617,979.67. Following the transaction, the executive vice president now directly owns 133,257 shares of the company’s stock, valued at approximately $7,900,807.53. The disclosure for this sale can be found here. Insiders sold a total of 23,603 shares of company stock valued at $1,341,991 over the last 90 days. 2.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JBL has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their price target on shares of Jabil from $78.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Credit Suisse Group initiated coverage on shares of Jabil in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $74.00 price target for the company. Finally, Citigroup dropped their price target on shares of Jabil from $90.00 to $80.00 in a research note on Friday, June 17th. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Jabil presently has a consensus rating of “Buy” and a consensus price target of $74.67.

Jabil Stock Performance

Jabil stock opened at $57.81 on Tuesday. The company has a market cap of $7.95 billion, a PE ratio of 9.93, a P/E/G ratio of 0.70 and a beta of 1.40. The company has a fifty day moving average price of $57.38 and a two-hundred day moving average price of $58.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.04 and a quick ratio of 0.54. Jabil Inc. has a 12 month low of $48.80 and a 12 month high of $72.11.

Jabil (NYSE:JBLGet Rating) last released its quarterly earnings data on Thursday, June 16th. The technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $8.21 billion. Jabil had a net margin of 2.69% and a return on equity of 37.88%. During the same quarter in the previous year, the company posted $1.12 earnings per share. Research analysts expect that Jabil Inc. will post 6.59 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Monday, August 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 12th. Jabil’s dividend payout ratio is presently 5.50%.

Jabil Company Profile

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Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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