Raymond James & Associates Buys 7,046 Shares of Jabil Inc. (NYSE:JBL)

Raymond James & Associates increased its holdings in Jabil Inc. (NYSE:JBL) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,108 shares of the technology company’s stock after acquiring an additional 7,046 shares during the period. Raymond James & Associates owned about 0.10% of Jabil worth $13,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of JBL. ORG Partners LLC purchased a new stake in shares of Jabil during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Jabil in the second quarter worth about $28,000. Innealta Capital LLC bought a new position in shares of Jabil in the second quarter worth $31,000. Family Firm Inc. bought a new position in shares of Jabil in the second quarter valued at approximately $37,000. Finally, Matrix Trust Co boosted its stake in Jabil by 135.4% during the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after buying an additional 214 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jabil

In related news, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,651 shares of company stock worth $929,005 over the last three months. 2.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays raised their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Bank of America raised their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus upped their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Price Performance

Shares of JBL opened at $124.72 on Monday. The company has a 50 day moving average of $114.27 and a two-hundred day moving average of $114.79. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s revenue was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 earnings per share. As a group, analysts predict that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

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).