CreativeOne Wealth LLC Increases Stake in Jabil Inc. (NYSE:JBL)

CreativeOne Wealth LLC raised its holdings in Jabil Inc. (NYSE:JBL) by 29.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,969 shares of the technology company’s stock after acquiring an additional 892 shares during the quarter. CreativeOne Wealth LLC’s holdings in Jabil were worth $476,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. HHM Wealth Advisors LLC purchased a new position in Jabil in the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in shares of Jabil in the 2nd quarter valued at about $31,000. Capital Performance Advisors LLP acquired a new position in shares of Jabil during the third quarter worth about $32,000. Family Firm Inc. purchased a new stake in shares of Jabil during the second quarter worth approximately $37,000. Finally, Brooklyn Investment Group acquired a new stake in Jabil in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Trading Up 1.9 %

NYSE:JBL opened at $135.83 on Monday. The company has a market capitalization of $15.33 billion, a PE ratio of 12.33, a P/E/G ratio of 1.60 and a beta of 1.24. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The stock’s 50 day moving average price is $126.30 and its 200 day moving average price is $116.38. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period last year, the firm posted $2.34 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, research analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s dividend payout ratio (DPR) is 2.90%.

Insider Buying and Selling

In other news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,283 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $122.28, for a total transaction of $523,725.24. Following the transaction, the executive vice president now owns 142,472 shares in the company, valued at approximately $17,421,476.16. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 over the last quarter. 2.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JBL shares. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Stifel Nicolaus lifted their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays upped their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Bank of America raised their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.50.

Jabil Company 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).