Jabil Inc. (NYSE:JBL) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in Jabil Inc. (NYSE:JBL) by 11.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,784 shares of the technology company’s stock after purchasing an additional 2,674 shares during the period. Envestnet Asset Management Inc.’s holdings in Jabil were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JBL. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Jabil in the 2nd quarter valued at $48,153,000. Point72 Asset Management L.P. boosted its holdings in shares of Jabil by 27.7% in the 1st quarter. Point72 Asset Management L.P. now owns 3,206,100 shares of the technology company’s stock valued at $167,230,000 after buying an additional 695,900 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Jabil by 480.4% in the 1st quarter. Millennium Management LLC now owns 800,265 shares of the technology company’s stock valued at $41,742,000 after buying an additional 662,376 shares in the last quarter. BlackRock Inc. raised its position in Jabil by 5.1% in the 1st quarter. BlackRock Inc. now owns 12,094,538 shares of the technology company’s stock valued at $630,853,000 after purchasing an additional 589,775 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Jabil in the 1st quarter valued at $17,208,000. Institutional investors and hedge funds own 88.93% of the company’s stock.

In related news, Director Thomas A. Sansone sold 25,000 shares of the stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $59.25, for a total value of $1,481,250.00. Following the sale, the director now directly owns 204,588 shares of the company’s stock, valued at approximately $12,121,839. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Dastoor sold 10,000 shares of the stock in a transaction dated Friday, July 9th. The shares were sold at an average price of $57.91, for a total transaction of $579,100.00. The disclosure for this sale can be found here. Insiders sold a total of 105,581 shares of company stock valued at $6,358,940 in the last quarter. Insiders own 2.81% of the company’s stock.

Several analysts recently commented on the stock. Citigroup upped their price target on shares of Jabil from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 18th. Zacks Investment Research upgraded shares of Jabil from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research report on Tuesday, June 22nd. Finally, upped their price target on shares of Jabil from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 18th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $60.63.

Shares of Jabil stock opened at $59.08 on Tuesday. The company has a market cap of $8.62 billion, a P/E ratio of 15.31, a PEG ratio of 1.04 and a beta of 1.36. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.64 and a current ratio of 1.04. Jabil Inc. has a one year low of $31.41 and a one year high of $63.78. The firm has a fifty day moving average of $59.64 and a two-hundred day moving average of $55.98.

Jabil announced that its Board of Directors has approved a share buyback plan on Friday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Friday, August 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. Jabil’s dividend payout ratio is presently 91.43%.

Jabil Profile

Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

Further Reading: What is the Nikkei 225 index?    

Want to see what other hedge funds are holding JBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jabil Inc. (NYSE:JBL).

Institutional Ownership by Quarter for Jabil (NYSE:JBL)

Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.