Ballentine Partners LLC Purchases 397 Shares of Jabil, Inc. $JBL

Ballentine Partners LLC raised its position in Jabil, Inc. (NYSE:JBL) by 23.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,078 shares of the technology company’s stock after acquiring an additional 397 shares during the quarter. Ballentine Partners LLC’s holdings in Jabil were worth $453,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in Jabil during the first quarter worth about $27,000. Harbor Capital Advisors Inc. raised its stake in 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 acquiring an additional 116 shares during the period. Groupe la Francaise lifted its holdings in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after purchasing an additional 64 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Jabil by 2,400.0% during the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock worth $37,000 after buying an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Jabil during the first quarter worth approximately $52,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In other news, Director Steven A. Raymund sold 13,432 shares of the firm’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the transaction, the director owned 86,396 shares of the company’s stock, valued at approximately $19,275,811.56. This trade represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total value of $4,331,800.00. Following the completion of the sale, the chairman owned 1,440,190 shares in the company, valued at $311,930,752.10. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,416 shares of company stock worth $18,625,639. 1.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JBL. JPMorgan Chase & Co. lifted their price target on Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Raymond James Financial set a $260.00 target price on shares of Jabil in a research report on Thursday. Bank of America increased their price target on Jabil from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Research cut Jabil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Wall Street Zen lowered Jabil from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and a consensus target price of $243.71.

Jabil Price Performance

Jabil stock opened at $216.19 on Friday. The stock has a 50-day moving average price of $216.57 and a two-hundred day moving average price of $184.48. Jabil, Inc. has a 12 month low of $108.66 and a 12 month high of $237.14. The company has a market capitalization of $23.20 billion, a PE ratio of 36.27, a P/E/G ratio of 1.27 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 0.64 and a debt-to-equity ratio of 1.57.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, August 15th. Jabil’s payout ratio is presently 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).