Eagle Strategies LLC Takes $270,000 Position in Jabil Inc. (NYSE:JBL)

Eagle Strategies LLC acquired a new stake in shares of Jabil Inc. (NYSE:JBL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,252 shares of the technology company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JBL. Point72 Asset Management L.P. acquired a new position in shares of Jabil during the 2nd quarter valued at $78,660,000. AQR Capital Management LLC grew its holdings in Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the period. Bank of New York Mellon Corp raised its position in Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Jabil in the 1st quarter valued at about $39,040,000. Finally, Victory Capital Management Inc. lifted its holdings in Jabil by 72.0% in the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after acquiring an additional 205,331 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

JBL opened at $123.98 on Thursday. The firm has a market capitalization of $14.06 billion, a P/E ratio of 11.25, a PEG ratio of 1.46 and a beta of 1.25. The stock has a fifty day moving average of $115.28 and a 200-day moving average of $114.70. 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 Inc. has a 12-month low of $95.85 and a 12-month high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the prior year, the business earned $2.34 EPS. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. Equities analysts forecast that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, November 15th. Jabil’s payout ratio is presently 2.90%.

Analyst Ratings Changes

JBL has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Bank of America increased their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays lifted their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Insider Buying and Selling at Jabil

In other news, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction on Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the sale, the executive vice president now owns 18,568 shares of the company’s stock, valued at approximately $2,336,411.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,651 shares of company stock worth $3,423,005. 2.62% of the stock is currently owned by company insiders.

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).