Jabil Inc (JBL) Holdings Lifted by Russell Investments Group Ltd.
Russell Investments Group Ltd. grew its holdings in Jabil Inc (NYSE:JBL) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 416,452 shares of the technology company’s stock after acquiring an additional 17,861 shares during the period. Russell Investments Group Ltd. owned about 0.24% of Jabil worth $11,888,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. IHT Wealth Management LLC boosted its holdings in shares of Jabil by 142.6% in the 2nd quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after acquiring an additional 211 shares during the last quarter. Advisor Group Inc. boosted its holdings in Jabil by 68.2% during the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock worth $168,000 after buying an additional 2,337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Jabil by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after buying an additional 547 shares in the last quarter. Stevens Capital Management LP purchased a new stake in Jabil during the second quarter worth $206,000. Finally, Bridgewater Associates LP purchased a new stake in Jabil during the second quarter worth $219,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Jabil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Needham & Company LLC reissued a “buy” rating and set a $37.00 price target on shares of Jabil in a report on Wednesday, September 27th. ValuEngine downgraded shares of Jabil from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and set a $30.00 price target on shares of Jabil in a report on Thursday, September 28th. Finally, BidaskClub downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.
Jabil (NYSE:JBL) last posted its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.86 billion. Jabil had a net margin of 0.68% and a return on equity of 14.47%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. equities research analysts predict that Jabil Inc will post 2.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date was Tuesday, November 14th. Jabil’s payout ratio is 46.38%.
In other Jabil news, President William E. Peters sold 3,580 shares of the stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total transaction of $102,889.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.02, for a total transaction of $870,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,680 shares of company stock worth $3,349,846. Insiders own 2.90% of the company’s stock.
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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