Mather Group LLC. Acquires Shares of 6,755 Jabil Inc. (NYSE:JBL)

Posted by MarketBeat News on Mar 15th, 2023

Mather Group LLC. acquired a new stake in shares of Jabil Inc. (NYSE:JBL – Get Rating) during the third quarter, Holdings Channel reports. The firm acquired 6,755 shares of the technology company’s stock, valued at approximately $390,000.

Other institutional investors also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new stake in Jabil during the third quarter valued at approximately $460,000. Field & Main Bank acquired a new stake in Jabil during the third quarter valued at approximately $35,000. Zions Bancorporation N.A. bought a new position in shares of Jabil in the first quarter valued at approximately $40,000. Ronald Blue Trust Inc. bought a new position in shares of Jabil in the second quarter valued at approximately $70,000. Finally, Amundi raised its stake in shares of Jabil by 30.6% in the second quarter. Amundi now owns 1,489 shares of the technology company’s stock valued at $77,000 after acquiring an additional 349 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Gerald Creadon sold 14,297 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $70.75, for a total transaction of $1,011,512.75. Following the completion of the sale, the executive vice president now owns 60,965 shares in the company, valued at approximately $4,313,273.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Jabil news, EVP Gerald Creadon sold 14,297 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $70.75, for a total transaction of $1,011,512.75. Following the completion of the sale, the executive vice president now owns 60,965 shares in the company, valued at approximately $4,313,273.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth S. Wilson sold 5,000 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 337,776 shares of the company’s stock, valued at approximately $23,644,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,562 shares of company stock worth $14,936,641. Insiders own 2.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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A number of research firms have recently issued reports on JBL. UBS Group began coverage on shares of Jabil in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 target price for the company. Citigroup lifted their target price on shares of Jabil from $80.00 to $85.00 in a research note on Friday, December 16th. StockNews.com cut shares of Jabil from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 3rd. Finally, Credit Suisse Group lifted their target price on shares of Jabil from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $82.40.

Jabil Stock Performance

JBL stock opened at $82.95 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57. The company has a 50 day moving average price of $79.92 and a 200 day moving average price of $69.72. Jabil Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $85.70. The stock has a market capitalization of $11.06 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.

Jabil (NYSE:JBL – Get Rating) last posted its quarterly earnings data on Thursday, December 15th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.28). The company had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $9.28 billion. Jabil had a return on equity of 40.43% and a net margin of 2.83%. Analysts forecast that Jabil Inc. will post 7.81 EPS for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Wednesday, February 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, February 14th. Jabil’s payout ratio is 4.64%.

Jabil Profile

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.