Merit Financial Group LLC Boosts Holdings in Jabil Inc. (NYSE:JBL)

Merit Financial Group LLC boosted its position in Jabil Inc. (NYSE:JBL) by 94.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,171 shares of the technology company’s stock after purchasing an additional 1,538 shares during the quarter. Merit Financial Group LLC’s holdings in Jabil were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JBL. Mirae Asset Global Investments Co. Ltd. lifted its stake in Jabil by 52.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,737 shares of the technology company’s stock worth $1,712,000 after purchasing an additional 4,045 shares in the last quarter. Choreo LLC increased its holdings in shares of Jabil by 41.8% in the 4th quarter. Choreo LLC now owns 3,205 shares of the technology company’s stock worth $461,000 after buying an additional 945 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Jabil by 2.2% in the 4th quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company’s stock worth $471,000 after buying an additional 70 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Jabil by 2.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,621 shares of the technology company’s stock worth $1,816,000 after acquiring an additional 286 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in Jabil in the fourth quarter worth $272,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Up 0.4%

Shares of NYSE:JBL opened at $178.10 on Wednesday. The stock’s 50-day moving average price is $152.04 and its 200-day moving average price is $149.95. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $180.11. The stock has a market capitalization of $19.12 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

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

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders 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 dividend yield of 0.18%. Jabil’s dividend payout ratio (DPR) is currently 7.66%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group raised their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. Barclays raised their price target on Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average target price of $169.17.

Insider Activity

In related news, 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 value of $3,335,000.00. Following the sale, the chairman now directly owns 1,710,192 shares of the company’s stock, valued at $285,174,516. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $7,665,200. 1.73% of the stock is currently owned by insiders.

About Jabil

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).