Assenagon Asset Management S.A. Buys 143,780 Shares of Jabil Inc. (NYSE:JBL)

Assenagon Asset Management S.A. increased its holdings in shares of Jabil Inc. (NYSE:JBL) by 5,114.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 146,591 shares of the technology company’s stock after acquiring an additional 143,780 shares during the period. Assenagon Asset Management S.A.’s holdings in Jabil were worth $15,948,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in Jabil during the first quarter worth $25,000. Activest Wealth Management acquired a new position in Jabil during the first quarter worth $28,000. Alaska Permanent Fund Corp acquired a new position in Jabil during the fourth quarter worth $29,000. ORG Partners LLC acquired a new position in Jabil during the first quarter worth $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Jabil during the fourth quarter worth $32,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Performance

Shares of NYSE JBL traded down $0.76 during mid-day trading on Friday, reaching $106.32. 794,991 shares of the company were exchanged, compared to its average volume of 1,466,096. The company’s 50-day simple moving average is $111.10 and its 200-day simple moving average is $123.31. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $12.06 billion, a P/E ratio of 9.67, a P/E/G ratio of 1.95 and a beta of 1.27. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. Jabil’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 EPS. As a group, research analysts predict that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, August 15th. Jabil’s dividend payout ratio is 2.91%.

Insider Buying and Selling

In related news, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group reduced their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Barclays reduced their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Bank of America cut their price target on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock 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).