MJP Associates Inc. ADV Has $905,000 Stock Position in Jabil Inc. (NYSE:JBL)

MJP Associates Inc. ADV boosted its stake in Jabil Inc. (NYSE:JBL) by 41.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,319 shares of the technology company’s stock after purchasing an additional 2,417 shares during the quarter. MJP Associates Inc. ADV’s holdings in Jabil were worth $905,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Jabil by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after acquiring an additional 1,427,429 shares during the last quarter. Norges Bank bought a new stake in shares of Jabil during the fourth quarter worth about $192,964,000. Artisan Partners Limited Partnership grew its holdings in shares of Jabil by 36.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after purchasing an additional 359,818 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Jabil by 29.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock worth $141,577,000 after purchasing an additional 249,889 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Jabil by 2.6% during the fourth quarter. California Public Employees Retirement System now owns 784,669 shares of the technology company’s stock worth $99,967,000 after purchasing an additional 19,611 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on JBL shares. JPMorgan Chase & Co. reduced their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. UBS Group dropped their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Barclays dropped their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, Bank of America dropped their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.63.

Insider Activity at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.

Jabil Stock Performance

Shares of Jabil stock traded up $0.24 during trading hours on Friday, reaching $102.13. The company had a trading volume of 678,549 shares, compared to its average volume of 1,481,743. The firm has a market cap of $11.59 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The business has a fifty day simple moving average of $112.16 and a 200 day simple moving average of $123.98.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. On average, analysts anticipate that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $0.08 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

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).