abrdn plc lowered its holdings in shares of Jabil Inc. (NYSE:JBL) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,603 shares of the technology company’s stock after selling 708 shares during the quarter. abrdn plc’s holdings in Jabil were worth $1,488,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in JBL. Eaton Vance Management acquired a new stake in shares of Jabil during the first quarter worth about $94,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of Jabil during the second quarter worth about $115,000. IFP Advisors Inc raised its position in Jabil by 90.6% in the 2nd quarter. IFP Advisors Inc now owns 2,646 shares of the technology company’s stock valued at $155,000 after buying an additional 1,258 shares during the last quarter. Baker Tilly Wealth Management LLC acquired a new stake in Jabil in the 1st quarter valued at approximately $214,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Jabil in the 2nd quarter valued at approximately $220,000. 88.93% of the stock is currently owned by institutional investors.
JBL has been the topic of a number of recent research reports. Zacks Investment Research raised Jabil from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, June 22nd. lifted their target price on Jabil from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 18th. Finally, Citigroup lifted their target price on Jabil from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 18th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $60.63.
JBL stock opened at $62.21 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average price of $59.99 and a two-hundred day moving average price of $56.28. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.04 and a beta of 1.36. Jabil Inc. has a twelve month low of $31.41 and a twelve month high of $63.78.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Friday, August 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. Jabil’s dividend payout ratio is 91.43%.
Jabil announced that its board has initiated a stock buyback plan on Friday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to purchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Jabil Company Profile
Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.
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