Bayforest Capital Ltd Acquires 2,706 Shares of Jabil, Inc. (NYSE:JBL)

Bayforest Capital Ltd boosted its holdings in Jabil, Inc. (NYSE:JBL) by 712.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,086 shares of the technology company’s stock after purchasing an additional 2,706 shares during the period. Bayforest Capital Ltd’s holdings in Jabil were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after buying an additional 416,841 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after acquiring an additional 34,574 shares during the period. Northern Trust Corp increased its stake in shares of Jabil by 21.7% during the 4th quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company’s stock worth $184,010,000 after purchasing an additional 227,954 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Jabil by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company’s stock valued at $152,165,000 after purchasing an additional 37,201 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in Jabil by 1,007.6% in the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock valued at $138,954,000 after purchasing an additional 878,444 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays boosted their price target on Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. lifted their target price on Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Argus upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Bank of America lifted their price objective on shares of Jabil from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, June 20th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $231.71.

Insider Transactions at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total transaction of $4,331,800.00. Following the sale, the chairman owned 1,440,190 shares of the company’s stock, valued at $311,930,752.10. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Priestley sold 3,702 shares of Jabil stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total value of $832,950.00. Following the completion of the transaction, the executive vice president directly owned 44,833 shares of the company’s stock, valued at $10,087,425. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 322,847 shares of company stock worth $63,849,847. Company insiders own 1.73% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $226.32 on Thursday. The stock has a 50 day simple moving average of $201.93 and a 200 day simple moving average of $168.01. The stock has a market cap of $24.29 billion, a P/E ratio of 43.95, a PEG ratio of 1.61 and a beta of 1.20. Jabil, Inc. has a 1-year low of $95.85 and a 1-year high of $232.84. 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 (NYSE:JBL) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. Research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current year.

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).