W.E. Donoghue & Co. LLC acquired a new position in shares of Jabil Inc (NYSE:JBL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,450 shares of the technology company’s stock, valued at approximately $678,000.
Other hedge funds also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of Jabil during the second quarter valued at approximately $28,000. State of Alaska Department of Revenue lifted its stake in shares of Jabil by 2.9% during the second quarter. State of Alaska Department of Revenue now owns 35,135 shares of the technology company’s stock valued at $1,109,000 after buying an additional 976 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Jabil during the second quarter valued at approximately $202,000. Cerebellum GP LLC purchased a new position in shares of Jabil during the second quarter valued at approximately $131,000. Finally, FDx Advisors Inc. purchased a new position in shares of Jabil during the second quarter valued at approximately $204,000. 89.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Alessandro Parimbelli sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $30.78, for a total transaction of $107,730.00. Following the completion of the transaction, the chief executive officer now owns 317,292 shares of the company’s stock, valued at $9,766,247.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bruce Allan Johnson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $31.50, for a total transaction of $189,000.00. Following the transaction, the senior vice president now directly owns 147,700 shares of the company’s stock, valued at approximately $4,652,550. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $1,158,595 in the last ninety days. 2.90% of the stock is currently owned by company insiders.
Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, June 18th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Jabil had a net margin of 0.72% and a return on equity of 18.57%. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. Jabil’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts expect that Jabil Inc will post 2.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, August 14th. Jabil’s dividend payout ratio (DPR) is 14.75%.
Separately, Zacks Investment Research downgraded shares of Jabil from a “hold” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.33.
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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