Wealth Enhancement Advisory Services LLC Raises Position in Jabil Inc. (NYSE:JBL)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Jabil Inc. (NYSE:JBL) by 68.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,318 shares of the technology company’s stock after buying an additional 9,039 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Jabil were worth $3,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of JBL. Wellington Management Group LLP lifted its holdings in shares of Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. Norges Bank acquired a new position in shares of Jabil in the fourth quarter valued at approximately $218,430,000. Point72 Asset Management L.P. raised its position in shares of Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock valued at $138,954,000 after buying an additional 878,444 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Jabil by 16,190.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company’s stock valued at $79,539,000 after buying an additional 549,347 shares during the last quarter. Finally, FMR LLC raised its position in shares of Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after buying an additional 416,841 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JBL shares. UBS Group boosted their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Barclays boosted their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. Finally, The Goldman Sachs Group dropped their price target on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.50.

Insiders Place Their Bets

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the transaction, the chairman now owns 1,710,192 shares in the company, valued at approximately $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $7,665,200 in the last ninety days. Corporate insiders own 1.73% of the company’s stock.

Jabil Price Performance

JBL opened at $171.80 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company has a 50 day moving average of $148.62 and a two-hundred day moving average of $148.51. The company has a market cap of $18.44 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.65 and a beta of 1.14.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. On average, analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. Jabil’s dividend payout ratio (DPR) is 7.66%.

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).