On June 6, 2023, Jabil Inc. (NYSE:JBL) released a statement outlining the recent changes made to their stock position and dividend payments. The Securities and Exchange Commission (SEC) has confirmed that HRT Financial LP lessened their position in Jabil’s shares by a staggering 97.9% during the fourth quarter of an undisclosed year prior to this announcement. HRT Financial LP currently holds only 5,635 shares in the technology company’s stock after selling an impressive 257,298 shares in just one financial period. At the end of this reporting period, the remaining shares were calculated at $384,000.
In addition to this remarkable decrease in shared ownership within Jabil’s company, investors also received an announcement regarding quarterly dividends. Dividends were paid out to investors on Friday, June 2nd; however, investors of record as of Monday May 15th were guaranteed a payout of $0.08 per share owned with ex-dividend status established for those sold on or after Friday, May 12th. This quarterly payout represents an annualized amount of $0.32 per share held with shareholders seeing roughly a dividend yield of 0.35%. Currently sitting at a dividend payout ratio of only 4.64%, it seems Jabil is using safe and secure practices when it comes to dividend allocation.
With all things considered, there seem to be some discrepancies within Jabil’s internal structure including several sales carried out by senior vice presidents and CEO Steven D. Borges over twenty-five years ago on March 22nd that have only now been disclosed in SEC legal filings available through a hyperlink provided by the company itself. SVP Francis Mckay sold over a thousand shares at $82.91 each totaling almost $100 thousand while CEO Steven D. Borges sold double the amount at $83.40 each totaling well into seven figures thereby decreasing their share powers considerably. In total, 2.75% of Jabil’s stock now belongs to company insiders.
These findings can be perplexing to those invested in Jabil Inc., and potentially affect the value of its shares on the marketplace. How the company chooses to navigate these changes remains to be seen, but transparency is key in any decision-making process moving forward for both the benefit of shareholders and the company itself.
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Investment in Jabil Surges: Hedge Funds and Institutional Investors Show Confidence in the Tech Company
Investment in Jabil Increases by Hedge Funds and Institutional Investors
Jabil, a technology company listed on the New York Stock Exchange (NYSE) as JBL, has recently seen an increase in investment from hedge funds and institutional investors. Raleigh Capital Management Inc., Lindbrook Capital LLC, Zions Bancorporation N.A., Capital Analysts LLC and Accurate Wealth Management LLC are among some of the companies who have increased their stakes in Jabil.
Raleigh Capital Management Inc. increased its stake by 391.8% during the fourth quarter and now owns 418 shares worth $29,000. Meanwhile, Lindbrook Capital LLC lifted its stake by 29.6% during the same quarter and now owns 586 shares worth $40,000. Similarly, Zions Bancorporation N.A purchased a position for approximately $40,000 with other investors doing so at higher rates such as Accurate Wealth Management LLC which bought a position during the last quarter valued at approximately $60,000.
Hedge funds and other institutional investors currently own 88.45% of Jabil’s stock which is reflective of increasing trust from investors within the market.
Jabil has been subject to analyst reports with many highlighting their target price of up to $110.00 due to growth within this sector. The Goldman Sachs Group gave Jabil a “buy” rating after lifting their target price on the stock from $80.00 to $90.00 while Raymond James gave a “strong-buy” rating after lifting their target price on Jabil from $84.00 to $100.00. StockNews.com rated Jabil as “buy” whilst Credit Suisse Group showed confidence in the company with an “outperform” rating.
On March 2nd, a recent dividend was announced which amounted to paying out $0.08 per share. For investors of record on May 15th, the dividend was paid on June 2nd. This means that dividends amounted to 0.35% with a payout ratio standing at 4.64%.
Jabil has a market capitalization of $12.15 billion and is valued at profits before earnings, taxes and depreciation at a P/E ratio of 13.28 and P/E/G ratio of 0.99 respectively. Their return on equity stands at an impressive 39.80% and a net margin of 2.74%.
Looking ahead, Jabil is forecasted to post around $7.77 earnings per share for this fiscal year by equities research analysts reflecting growth promise for investors in the technology sector moving forward.