BNP Paribas Arbitrage SA grew its holdings in Jabil Inc (NYSE:JBL) by 20.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 552,460 shares of the technology company’s stock after purchasing an additional 92,947 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.33% of Jabil worth $15,281,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ramsey Quantitative Systems bought a new position in shares of Jabil in the second quarter valued at $353,000. Meeder Asset Management Inc. lifted its holdings in shares of Jabil by 1,410.3% during the second quarter. Meeder Asset Management Inc. now owns 50,896 shares of the technology company’s stock worth $1,408,000 after buying an additional 47,526 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Jabil by 2.7% during the second quarter. Foundry Partners LLC now owns 257,125 shares of the technology company’s stock worth $7,112,000 after buying an additional 6,825 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Jabil during the second quarter worth $1,358,000. Finally, Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of Jabil by 16.6% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 257,880 shares of the technology company’s stock worth $7,133,000 after buying an additional 36,670 shares in the last quarter. 91.93% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on the company. Zacks Investment Research raised Jabil from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.00.
Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, June 14th. The technology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Jabil had a return on equity of 15.68% and a net margin of 0.89%. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was up 21.1% compared to the same quarter last year. equities analysts forecast that Jabil Inc will post 2.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. Jabil’s payout ratio is currently 17.30%.
Jabil announced that its board has authorized a stock repurchase plan on Thursday, June 14th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 7.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Jabil news, President William E. Peters sold 13,915 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $28.11, for a total value of $391,150.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 41,745 shares of company stock worth $1,172,895. Insiders own 2.60% of the company’s stock.
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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