Trust Asset Management LLC Takes $286,000 Position in Jabil, Inc. $JBL

Trust Asset Management LLC acquired a new stake in Jabil, Inc. (NYSE:JBL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,312 shares of the technology company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. grew its position in shares of Jabil by 5.4% in the 2nd quarter. Mather Group LLC. now owns 1,186 shares of the technology company’s stock valued at $259,000 after acquiring an additional 61 shares during the period. UMB Bank n.a. grew its position in shares of Jabil by 2.9% in the 2nd quarter. UMB Bank n.a. now owns 2,191 shares of the technology company’s stock valued at $478,000 after acquiring an additional 62 shares during the period. Groupe la Francaise grew its position in shares of Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after acquiring an additional 64 shares during the period. Keeley Teton Advisors LLC grew its position in shares of Jabil by 0.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 25,398 shares of the technology company’s stock valued at $3,456,000 after acquiring an additional 64 shares during the period. Finally, Cordatus Wealth Management LLC grew its position in shares of Jabil by 2.9% in the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company’s stock valued at $330,000 after acquiring an additional 68 shares during the period. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on JBL shares. JPMorgan Chase & Co. lifted their price objective on shares of Jabil from $214.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jabil in a report on Saturday, September 27th. The Goldman Sachs Group lifted their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Zacks Research downgraded shares of Jabil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Argus raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $248.43.

Jabil Price Performance

Shares of Jabil stock opened at $202.64 on Wednesday. Jabil, Inc. has a twelve month low of $108.66 and a twelve month high of $237.14. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The company has a 50-day simple moving average of $214.59 and a two-hundred day simple moving average of $187.96. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Jabil’s payout ratio is presently 5.37%.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the transaction, the executive vice president directly owned 124,203 shares in the company, valued at approximately $27,765,580.65. The trade was a 3.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Priestley sold 3,782 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $225.00, for a total transaction of $850,950.00. Following the completion of the transaction, the executive vice president owned 48,535 shares of the company’s stock, valued at $10,920,375. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,416 shares of company stock valued at $18,367,889 over the last quarter. 1.73% of the stock is owned by corporate insiders.

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).