Longboard Asset Management LP Acquires Shares of 920 Jabil, Inc. $JBL

Longboard Asset Management LP acquired a new stake in Jabil, Inc. (NYSE:JBL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 920 shares of the technology company’s stock, valued at approximately $201,000.

Several other hedge funds also recently added to or reduced their stakes in JBL. Wellington Management Group LLP grew its stake in shares of Jabil by 12.9% during the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company’s stock valued at $892,096,000 after acquiring an additional 747,423 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Jabil by 119.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company’s stock valued at $165,417,000 after acquiring an additional 662,938 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Jabil during the first quarter valued at about $81,378,000. GAMMA Investing LLC grew its stake in shares of Jabil by 17,410.3% during the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company’s stock valued at $71,431,000 after acquiring an additional 521,960 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Jabil during the first quarter valued at about $51,257,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Steven A. Raymund sold 13,432 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the sale, the director owned 86,396 shares of the company’s stock, valued at $19,275,811.56. The trade was a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $200.02, for a total value of $4,000,400.00. Following the sale, the chairman directly owned 1,400,190 shares in the company, valued at approximately $280,066,003.80. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,871 shares of company stock valued at $22,604,086 over the last 90 days. Corporate insiders own 1.73% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the subject of several recent analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Stifel Nicolaus began coverage on Jabil in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price target for the company. The Goldman Sachs Group lifted their price target on Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Argus upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average target price of $231.71.

Jabil Stock Performance

JBL opened at $213.22 on Thursday. The business’s 50 day moving average is $216.17 and its 200-day moving average is $180.04. The stock has a market cap of $22.88 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a twelve month low of $107.11 and a twelve month high of $232.84.

Jabil (NYSE:JBL) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%.The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.2%. Jabil’s payout ratio is presently 6.21%.

About Jabil

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).