Empowered Funds LLC Makes New $6.37 Million Investment in Jabil Inc. (NYSE:JBL)

Empowered Funds LLC bought a new position in shares of Jabil Inc. (NYSE:JBLGet Rating) during the 1st quarter, Holdings Channel reports. The firm bought 103,188 shares of the technology company’s stock, valued at approximately $6,370,000. Jabil makes up 0.7% of Empowered Funds LLC’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. MML Investors Services LLC acquired a new stake in shares of Jabil in the third quarter valued at approximately $214,000. LPL Financial LLC grew its position in shares of Jabil by 116.9% in the third quarter. LPL Financial LLC now owns 28,614 shares of the technology company’s stock valued at $1,670,000 after purchasing an additional 15,424 shares during the last quarter. UBS Group AG grew its position in shares of Jabil by 33.4% in the third quarter. UBS Group AG now owns 155,692 shares of the technology company’s stock valued at $9,088,000 after purchasing an additional 38,968 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Jabil by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 1,609,163 shares of the technology company’s stock valued at $93,927,000 after purchasing an additional 55,690 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of Jabil by 218.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 42,110 shares of the technology company’s stock valued at $2,962,000 after purchasing an additional 28,900 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

JBL has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Jabil from $78.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 1st. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 15th. Finally, Citigroup reduced their price objective on shares of Jabil from $90.00 to $80.00 in a research note on Friday, June 17th. Three investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average price target of $74.80.

NYSE:JBL opened at $51.09 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.04 and a debt-to-equity ratio of 1.22. The company has a market cap of $7.21 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.69 and a beta of 1.37. Jabil Inc. has a fifty-two week low of $50.03 and a fifty-two week high of $72.11. The firm’s 50 day moving average is $57.60 and its two-hundred day moving average is $60.53.

Jabil (NYSE:JBLGet Rating) last posted its quarterly earnings results on Thursday, June 16th. The technology company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. Jabil had a net margin of 2.69% and a return on equity of 37.88%. During the same quarter in the prior year, the company earned $1.12 EPS. Research analysts forecast that Jabil Inc. will post 6.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Investors of record on Monday, May 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Friday, May 13th. Jabil’s payout ratio is 5.50%.

In related news, CEO Mark T. Mondello sold 12,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $62.20, for a total transaction of $746,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,055,589 shares of the company’s stock, valued at approximately $127,857,635.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gerald Creadon sold 3,703 shares of the firm’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $54.76, for a total transaction of $202,776.28. Following the transaction, the senior vice president now directly owns 46,166 shares of the company’s stock, valued at $2,528,050.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,203 shares of company stock valued at $1,166,176. Company insiders own 2.59% of the company’s stock.

Jabil Company Profile (Get Rating)

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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