Public Employees Retirement System of Ohio Increases Stake in Jabil, Inc. $JBL

Public Employees Retirement System of Ohio grew its stake in Jabil, Inc. (NYSE:JBL) by 12.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 93,444 shares of the technology company’s stock after buying an additional 10,153 shares during the quarter. Public Employees Retirement System of Ohio owned 0.09% of Jabil worth $20,380,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV purchased a new position in shares of Jabil in the 1st quarter valued at about $27,000. Harbor Capital Advisors Inc. boosted its stake 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 valued at $30,000 after buying an additional 116 shares during the period. Groupe la Francaise boosted its stake in shares of Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after buying an additional 64 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of Jabil by 58.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 264 shares of the technology company’s stock valued at $58,000 after buying an additional 97 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Jabil by 2,400.0% in the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $37,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Trading Down 6.6%

NYSE:JBL opened at $210.42 on Friday. The firm has a market cap of $22.58 billion, a P/E ratio of 40.86, a PEG ratio of 1.33 and a beta of 1.25. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The stock’s 50 day simple moving average is $216.73 and its 200-day simple moving average is $183.55. Jabil, Inc. has a 12-month low of $108.66 and a 12-month high of $237.14.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Jabil’s payout ratio is 6.21%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Jabil from $214.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Stifel Nicolaus assumed coverage on Jabil in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price objective for the company. Argus raised Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday, June 18th. Barclays raised their target price on Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. Finally, Raymond James Financial set a $260.00 target price on Jabil in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

Insider Transactions at Jabil

In related news, EVP Andrew Priestley sold 3,702 shares of Jabil stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $225.00, for a total value of $832,950.00. Following the sale, the executive vice president directly owned 44,833 shares in the company, valued at $10,087,425. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven A. Raymund sold 13,432 shares of Jabil stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $223.11, for a total value of $2,996,813.52. Following the completion of the sale, the director owned 86,396 shares in the company, valued at approximately $19,275,811.56. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,416 shares of company stock valued at $18,625,639. 1.73% of the stock is owned by company insiders.

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).