Lord Abbett & CO. LLC Makes New Investment in Jabil, Inc. (NYSE:JBL)

Lord Abbett & CO. LLC purchased a new stake in shares of Jabil, Inc. (NYSE:JBL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 598,063 shares of the technology company’s stock, valued at approximately $81,378,000.

A number of other hedge funds have also modified their holdings of JBL. JPMorgan Chase & Co. increased its position in Jabil by 15.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company’s stock worth $295,693,000 after purchasing an additional 295,496 shares during the last quarter. Northern Trust Corp grew its stake in shares of Jabil by 21.7% in the 4th quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company’s stock valued at $184,010,000 after buying an additional 227,954 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Jabil by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company’s stock worth $152,165,000 after buying an additional 37,201 shares during the last quarter. Point72 Asset Management L.P. raised its position in Jabil by 1,007.6% during the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock valued at $138,954,000 after acquiring an additional 878,444 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Jabil by 7.9% in the first quarter. Victory Capital Management Inc. now owns 676,472 shares of the technology company’s stock valued at $92,048,000 after acquiring an additional 49,431 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Stock Performance

Shares of NYSE:JBL opened at $219.18 on Thursday. The business has a fifty day moving average of $212.70 and a 200-day moving average of $172.03. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. Jabil, Inc. has a twelve month low of $99.67 and a twelve month high of $232.84. The firm has a market cap of $23.52 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20.

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

Jabil Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.08 per share. This represents a dividend yield of 14.0%. The ex-dividend date of this dividend is Friday, August 15th. Jabil’s dividend payout ratio is 6.21%.

Analyst Ratings Changes

Several research analysts have recently commented on JBL shares. JPMorgan Chase & Co. increased their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Barclays increased their target price on shares of Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. Wall Street Zen cut Jabil from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. The Goldman Sachs Group increased their price objective on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Finally, Argus raised Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $231.71.

Insider Buying and Selling at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the transaction, the chairman owned 1,560,192 shares in the company, valued at approximately $301,631,919.36. This trade represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 102,803 shares of the company’s stock, valued at approximately $20,561,628.03. This represents a 17.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 332,847 shares of company stock valued at $66,534,847 over the last ninety days. Company insiders own 1.73% of the company’s stock.

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).