Deltec Asset Management LLC Makes New Investment in Jabil, Inc. (NYSE:JBL)

Deltec Asset Management LLC bought a new position in Jabil, Inc. (NYSE:JBL) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,600 shares of the technology company’s stock, valued at approximately $490,000.

Several other hedge funds also recently bought and sold shares of JBL. SBI Securities Co. Ltd. acquired a new stake in Jabil in the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Jabil in the fourth quarter worth $29,000. Harbor Capital Advisors Inc. raised its holdings in 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 during the period. Millstone Evans Group LLC acquired a new stake in Jabil in the fourth quarter worth $37,000. Finally, First Horizon Advisors Inc. raised its holdings in 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 during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other news, SVP Adam E. Berry sold 4,233 shares of Jabil stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $200.36, for a total value of $848,123.88. Following the completion of the transaction, the senior vice president now owns 13,047 shares of the company’s stock, valued at $2,614,096.92. This trade represents a 24.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP May Yee Yap sold 6,787 shares of Jabil stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $206.00, for a total transaction of $1,398,122.00. Following the completion of the transaction, the senior vice president now directly owns 25,582 shares of the company’s stock, valued at approximately $5,269,892. This trade represents a 20.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,976 shares of company stock valued at $52,261,361. Corporate insiders own 1.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays increased their target price on shares of Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a report on Tuesday. Raymond James Financial reissued a “strong-buy” rating and set a $230.00 price objective (up previously from $170.00) on shares of Jabil in a research report on Wednesday. Argus raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Jabil presently has a consensus rating of “Buy” and a consensus target price of $213.57.

Jabil Stock Up 0.5%

Shares of JBL stock opened at $205.72 on Friday. The firm has a fifty day moving average of $162.20 and a 200-day moving average of $152.96. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 12-month low of $95.85 and a 12-month high of $208.69. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 39.95, a P/E/G ratio of 1.97 and a beta of 1.14.

Jabil (NYSE:JBL) last released 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. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, equities research analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, May 15th. Jabil’s dividend payout ratio (DPR) is currently 6.21%.

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).