Highbridge Capital Management LLC acquired a new position in Jabil Inc (NYSE:JBL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,050 shares of the technology company’s stock, valued at approximately $835,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of JBL. Premia Global Advisors LLC bought a new position in shares of Jabil in the 4th quarter worth about $174,000. DekaBank Deutsche Girozentrale increased its stake in shares of Jabil by 269.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,705 shares of the technology company’s stock worth $220,000 after acquiring an additional 5,620 shares in the last quarter. Jump Trading LLC bought a new position in shares of Jabil in the 1st quarter worth about $225,000. Commonwealth Equity Services LLC bought a new position in shares of Jabil in the 1st quarter worth about $238,000. Finally, Element Capital Management LLC bought a new position in shares of Jabil in the 1st quarter worth about $260,000. Institutional investors and hedge funds own 88.00% of the company’s stock.
Shares of JBL stock opened at $28.30 on Friday. Jabil Inc has a one year low of $23.70 and a one year high of $31.77. The stock has a market cap of $4.75 billion, a P/E ratio of 13.43, a PEG ratio of 1.11 and a beta of 0.42. The company has a current ratio of 1.02, a quick ratio of 0.51 and a debt-to-equity ratio of 1.00.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, June 14th. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Jabil had a net margin of 0.89% and a return on equity of 15.68%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm posted $0.31 EPS. Jabil’s revenue for the quarter was up 21.1% on a year-over-year basis. analysts forecast that Jabil Inc will post 2.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Tuesday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, May 14th. Jabil’s dividend payout ratio (DPR) is 17.30%.
Jabil announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 14th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
JBL has been the subject of several research reports. Standpoint Research upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. ValuEngine lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Jabil from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.00.
In related news, President William E. Peters sold 13,915 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $26.50, for a total transaction of $368,747.50. Following the sale, the president now directly owns 566,754 shares of the company’s stock, valued at approximately $15,018,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 41,745 shares of company stock worth $1,157,867 over the last three months. 2.60% of the stock is currently owned by insiders.
Jabil Company Profile
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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