Mediolanum International Funds Ltd Invests $7.94 Million in Jabil Inc. (NYSE:JBL)

Mediolanum International Funds Ltd purchased a new position in Jabil Inc. (NYSE:JBL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 58,417 shares of the technology company’s stock, valued at approximately $7,941,000.

A number of other large investors also recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new position in shares of Jabil in the 1st quarter worth about $569,000. Daiwa Securities Group Inc. lifted its position in shares of Jabil by 8.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 12,699 shares of the technology company’s stock worth $1,701,000 after buying an additional 971 shares during the last quarter. Nordea Investment Management AB lifted its position in Jabil by 3.1% in the 1st quarter. Nordea Investment Management AB now owns 9,199 shares of the technology company’s stock valued at $1,242,000 after purchasing an additional 278 shares during the last quarter. Tobam acquired a new position in Jabil during the 1st quarter valued at about $1,692,000. Finally, Hunter Associates Investment Management LLC boosted its stake in Jabil by 24.9% during the 1st quarter. Hunter Associates Investment Management LLC now owns 12,849 shares of the technology company’s stock valued at $1,715,000 after purchasing an additional 2,559 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares in the company, valued at approximately $45,591,095. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.62% of the company’s stock.

Jabil Stock Up 3.4 %

JBL traded up $3.72 on Wednesday, reaching $113.73. 1,125,274 shares of the company traded hands, compared to its average volume of 1,484,990. The stock’s 50 day moving average price is $116.06 and its 200-day moving average price is $126.80. Jabil Inc. has a 52-week low of $100.18 and a 52-week high of $156.94. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.96 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period in the previous year, the firm posted $1.85 earnings per share. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. On average, sell-side analysts expect that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s dividend payout ratio is 2.91%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JBL. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Barclays dropped their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Finally, UBS Group dropped their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Jabil Company Profile

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).