Swedbank AB has significantly increased its investment in Jabil, Inc. (NYSE: JBL), raising its stake by 83.4% during the third quarter of 2023. The institutional investor now holds 28,446 shares of the technology company, valued at approximately $6.18 million as of the latest reporting period. This change was detailed in Swedbank’s recent 13F filing with the Securities and Exchange Commission.
In addition to Swedbank, several other institutional investors and hedge funds have made moves regarding Jabil’s stock. Notably, GFG Capital LLC acquired a new stake in Jabil worth around $26,000 during the second quarter, while Traub Capital Management LLC purchased a position valued at approximately $33,000. Assetmark Inc. increased its holdings by 45.8%, acquiring an additional 49 shares and bringing its total to 156 shares with a value of $34,000. Additionally, Westside Investment Management Inc. lifted its stake by an impressive 757.1%, now owning 180 shares valued at $39,000, after buying an additional 159 shares.
The trend of institutional investment in Jabil is notable, with hedge funds and other institutional investors currently owning 93.39% of the company’s stock.
Insider Transactions and Recent Performance
Recent insider trading activity has also drawn attention. On October 28, 2023, Jabil’s Chief Financial Officer, Gregory B. Hebard, sold 6,086 shares at an average price of $213.54, totaling $1,299,604.44. Following this transaction, Hebard retained 58,526 shares, with a current value of approximately $12.5 million, reflecting a 9.42% decrease in ownership.
Similarly, Executive Vice President Frederic E. Mccoy sold 22,011 shares on December 19, 2023, at an average price of $224.93, amounting to $4,950,934.23. After this sale, Mccoy holds 100,376 shares, valued at $22.58 million, indicating a 17.98% decrease in ownership. Over the past 90 days, insiders have sold a total of 205,273 shares for approximately $44.68 million, with insiders now owning 1.35% of the company.
Jabil’s Financial Performance and Analyst Insights
Jabil’s stock recently experienced a slight uptick of 0.6% following the company’s quarterly earnings announcement on December 17, 2023. The technology firm reported earnings per share (EPS) of $2.85, surpassing the consensus estimate of $2.70 by $0.15. The company achieved a return on equity of 75.96% and a net margin of 2.26%. With revenues reaching $8.31 billion for the quarter, Jabil exceeded the expected $8.07 billion, reflecting an 18.7% increase compared to the same quarter last year.
Looking ahead, Jabil has projected its fiscal year 2026 guidance at $11.55 EPS, with a second quarter guidance of $2.27-$2.67 EPS. Analysts forecast an average EPS of $8.05 for the current year.
In terms of shareholder returns, Jabil recently declared a quarterly dividend of $0.08 per share, distributed on December 2, 2023. The dividend yield stands at 0.1%, with a payout ratio of 4.98%.
Analysts have varied perspectives on Jabil’s stock performance. Weiss Ratings has maintained a “hold” rating, while the Goldman Sachs Group set a “buy” rating with a price target of $255.00. Barclays has increased its target from $267.00 to $283.00, assigning an “overweight” rating. UBS Group raised its price objective from $239.00 to $244.00, maintaining a “neutral” stance. Overall, Jabil holds an average rating of “Moderate Buy,” with a consensus target price of $261.29.
As a global leader in manufacturing solutions, Jabil specializes in electronic manufacturing services and diversified products across various sectors, including healthcare, automotive, and consumer electronics. Founded in 1966 by William E. More recently, Jabil has continued to evolve its offerings, aligning with industry demands and investor interests.
