Integrated Wealth Concepts LLC Makes New $223,000 Investment in Jabil Inc. (NYSE:JBL)

Integrated Wealth Concepts LLC bought a new position in Jabil Inc. (NYSE:JBL) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,863 shares of the technology company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also modified their holdings of JBL. Pacer Advisors Inc. boosted its holdings in Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after purchasing an additional 2,188,521 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Jabil in the second quarter worth approximately $78,660,000. AQR Capital Management LLC increased its stake in Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the last quarter. FMR LLC raised its position in Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Price Performance

Shares of NYSE:JBL opened at $135.13 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a market cap of $15.25 billion, a P/E ratio of 12.26, a PEG ratio of 1.57 and a beta of 1.25. The company has a 50-day moving average price of $129.51 and a 200 day moving average price of $117.57.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter last year, the business posted $2.34 earnings per share. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. Research analysts predict that Jabil Inc. will post 7.89 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Friday, November 15th. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares of the company’s stock, valued at $12,908,981.10. The trade was a 3.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JBL. JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Stifel Nicolaus increased their price objective on shares of Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Bank of America raised their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and an average target price of $145.17.

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).