Highland Capital Management LLC Makes New $232,000 Investment in Jabil Inc. (NYSE:JBL)

Highland Capital Management LLC purchased a new position in shares of Jabil Inc. (NYSE:JBL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,147 shares of the technology company’s stock, valued at approximately $232,000.

Other hedge funds have also modified their holdings of the company. Savant Capital LLC boosted its position in shares of Jabil by 4.6% in the second quarter. Savant Capital LLC now owns 5,358 shares of the technology company’s stock worth $578,000 after acquiring an additional 234 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Jabil in the first quarter worth approximately $562,000. Raleigh Capital Management Inc. boosted its position in shares of Jabil by 29.2% in the first quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock worth $48,000 after acquiring an additional 122 shares during the last quarter. LPL Financial LLC lifted its position in Jabil by 21.1% during the first quarter. LPL Financial LLC now owns 51,320 shares of the technology company’s stock valued at $4,524,000 after buying an additional 8,955 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Jabil during the second quarter valued at approximately $224,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Jabil

In other Jabil news, CEO Kenneth S. Wilson sold 20,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $126.32, for a total transaction of $2,526,400.00. Following the completion of the sale, the chief executive officer now owns 364,725 shares in the company, valued at $46,072,062. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $127.87, for a total transaction of $1,918,050.00. Following the completion of the transaction, the chief executive officer now owns 304,750 shares of the company’s stock, valued at $38,968,382.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth S. Wilson sold 20,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $126.32, for a total transaction of $2,526,400.00. Following the transaction, the chief executive officer now directly owns 364,725 shares of the company’s stock, valued at approximately $46,072,062. The disclosure for this sale can be found here. Insiders sold a total of 314,601 shares of company stock worth $40,201,576 over the last 90 days. Insiders own 2.75% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Jabil from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Argus lifted their price target on shares of Jabil from $125.00 to $145.00 in a research report on Friday, September 29th. Raymond James lifted their price target on shares of Jabil from $120.00 to $160.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 11th. Bank of America lifted their price target on shares of Jabil from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, September 25th. Finally, StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Jabil Stock Up 1.8 %

Shares of NYSE:JBL opened at $131.96 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $121.86 and a 200 day simple moving average of $108.04. The firm has a market cap of $16.88 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. Jabil Inc. has a 12-month low of $64.74 and a 12-month high of $141.38.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 28th. The technology company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.13. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.54 billion. Jabil had a net margin of 2.36% and a return on equity of 38.02%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. On average, equities research analysts anticipate that Jabil Inc. will post 8.67 EPS for the current fiscal year.

Jabil declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 28th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the technology company to buy up to 15.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s payout ratio is 5.33%.

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).