State of Alaska Department of Revenue Sells 10,040 Shares of Jabil, Inc. (NYSE:JBL)

State of Alaska Department of Revenue reduced its stake in Jabil, Inc. (NYSE:JBL) by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,103 shares of the technology company’s stock after selling 10,040 shares during the period. State of Alaska Department of Revenue’s holdings in Jabil were worth $4,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Jabil in the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Jabil in the 4th quarter worth approximately $29,000. Harbor Capital Advisors Inc. lifted its position in shares of Jabil by 110.5% in the 1st 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 purchased a new stake in shares of Jabil in the 4th quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Jabil by 90.3% in the 4th 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JBL. Bank of America upped their price target on shares of Jabil from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group increased their target price on shares of Jabil from $157.00 to $208.00 and gave the company a “neutral” rating 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. The Goldman Sachs Group increased their target price on shares of Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $230.00 target price (up previously from $170.00) on shares of Jabil in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $213.57.

Jabil Trading Up 0.5%

Shares of Jabil stock opened at $205.72 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.66 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 firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 1.97 and a beta of 1.14. The firm’s 50 day simple moving average is $162.20 and its two-hundred day simple moving average is $152.96.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the prior year, the business posted $1.89 EPS. Jabil’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

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

Insider Transactions at Jabil

In related news, EVP Steven D. Borges sold 22,443 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the sale, the executive vice president now owns 102,803 shares in the company, valued at approximately $20,561,628.03. This trade represents a 17.92% 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. Also, Chairman Mark T. Mondello sold 150,000 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the sale, the chairman now owns 1,560,192 shares in the company, valued at approximately $301,631,919.36. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 277,976 shares of company stock worth $52,261,361 over the last 90 days. 1.73% of the stock is currently owned by company 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).