Trust Asset Management LLC Acquires Shares of 1,312 Jabil, Inc. $JBL

Trust Asset Management LLC acquired a new stake in Jabil, Inc. (NYSE:JBL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,312 shares of the technology company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JBL. Creative Financial Designs Inc. ADV bought a new position in Jabil in the first quarter valued at approximately $27,000. 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. Groupe la Francaise raised its holdings in Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares during the period. Golden State Wealth Management LLC raised its holdings in Jabil by 2,400.0% in the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock worth $37,000 after purchasing an additional 264 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Jabil in the first quarter worth $52,000. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JBL. Bank of America increased their target price on shares of Jabil from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jabil in a report on Saturday, September 27th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday, June 18th. Barclays increased their target price on shares of Jabil from $223.00 to $267.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, UBS Group set a $241.00 price objective on shares of Jabil in a report on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.43.

Insider Buying and Selling at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $214.84, for a total value of $4,296,800.00. Following the completion of the transaction, the chairman owned 1,380,190 shares of the company’s stock, valued at approximately $296,520,019.60. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,500 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the completion of the transaction, the executive vice president directly owned 124,203 shares of the company’s stock, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,416 shares of company stock worth $18,367,889 in the last three months. 1.73% of the stock is currently owned by company insiders.

Jabil Trading Up 0.2%

Shares of NYSE:JBL opened at $202.64 on Wednesday. Jabil, Inc. has a 12 month low of $108.66 and a 12 month high of $237.14. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The company’s fifty day simple moving average is $214.59 and its 200 day simple moving average is $187.96. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.44 and a beta of 1.26.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Jabil’s dividend payout ratio (DPR) is 5.37%.

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).