Sowell Financial Services LLC Invests $1.26 Million in Jabil, Inc. (NYSE:JBL)

Sowell Financial Services LLC acquired a new position in Jabil, Inc. (NYSE:JBL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,277 shares of the technology company’s stock, valued at approximately $1,262,000.

Several other institutional investors have also recently made changes to their positions in JBL. SBI Securities Co. Ltd. purchased a new stake in Jabil in the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Jabil in the fourth quarter worth $29,000. Harbor Capital Advisors Inc. increased its stake in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Jabil in the fourth quarter worth $37,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

NYSE JBL opened at $196.42 on Wednesday. The stock has a market capitalization of $21.09 billion, a PE ratio of 46.99, a P/E/G ratio of 1.76 and a beta of 1.14. The business has a 50 day simple moving average of $157.94 and a two-hundred day simple moving average of $151.63. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.02 and a quick ratio of 0.66. Jabil, Inc. has a 1-year low of $95.85 and a 1-year high of $203.90.

Jabil (NYSE:JBL) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. Jabil had a net margin of 1.76% and a return on equity of 49.64%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period last year, the firm posted $1.89 earnings per share. Jabil’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, research analysts predict that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. 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 0.16%. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

Wall Street Analyst Weigh In

JBL has been the subject of a number of analyst reports. Barclays increased their price target on Jabil from $184.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. UBS Group increased their target price on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. cut their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.17.

Insider Transactions at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of Jabil 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 completion of the transaction, the chairman now owns 1,710,192 shares in the company, valued at approximately $285,174,516. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of Jabil 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 transaction, the chief executive officer now owns 221,693 shares of the company’s stock, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $7,665,200 in the last three months. Insiders own 1.73% of the company’s stock.

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).