Cascade Investment Advisors Inc. has decreased its stake in Jabil Inc. by 7.1% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor now owns 21,883 shares of Jabil’s stock, representing a 1.8% holding in its investment portfolio. This makes Jabil the fourth largest position for Cascade Investment Advisors Inc., with a value of $2,362,000 as of its most recent filing with the SEC.
Other hedge funds have also made adjustments to their holdings in Jabil. Wellington Management Group LLP acquired a new stake in the company during the first quarter, while JPMorgan Chase & Co. and FMR LLC increased their holdings in Jabil during the same period. Norges Bank and Invesco Ltd. have also made significant investments in the company. Overall, hedge funds and institutional investors own about 92.88% of Jabil’s stock.
Jabil Inc. is a technology company with a market cap of $16.68 billion. Its stock performance has been strong, with a 52-week low of $55.36 and a 52-week high of $130.23. The company has a current ratio of 1.16 and a quick ratio of 0.75, indicating a healthy liquidity position.
In terms of financials, Jabil reported earnings per share of $2.45 for the most recent quarter, beating the consensus estimate of $2.32. The company had a net margin of 2.36% and a return on equity of 38.02%. However, Jabil’s quarterly revenue was down 6.3% compared to the same quarter last year.
To enhance shareholder value, Jabil has initiated a stock buyback program, allowing the repurchase of $2.50 billion of its outstanding shares. This move signals the belief of the company’s board of directors that its stock is undervalued.
Jabil recently paid a quarterly dividend of $0.08 per share, representing an annualized dividend of $0.32 and a yield of 0.25%. The company has a dividend payout ratio (DPR) of 5.33%.
Research analysts have been positive about Jabil’s prospects, with several firms increasing their price targets for the stock. The company provides manufacturing services and solutions worldwide, operating in two segments: Electronics Manufacturing Services and Diversified Manufacturing Services.
Overall, Jabil continues to be an attractive investment option, with a strong portfolio position, positive financial performance, and buyback program that indicates confidence in its stock.
Source: Securities and Exchange Commission (SEC)
– Securities and Exchange Commission (SEC): A U.S. government agency responsible for regulating securities markets and protecting investors.
– Hedge funds: Investment funds that pool capital from accredited individuals or institutional investors to invest in various securities using different strategies.
– Institutional investors: Organizations such as mutual funds, pension funds, and insurance companies that invest large amounts of money on behalf of others.
– Market cap: Short for market capitalization, the total value of a company’s outstanding shares of stock, calculated by multiplying the stock price by the number of shares.
– Earnings per share: A financial metric that indicates a company’s profitability by dividing its net income by the number of outstanding shares.
– Net margin: A ratio that measures the percentage of profit a company generates from its total revenue.
– Return on equity: A measure of a company’s profitability that shows how much profit it generates with the money invested by shareholders.
– Liquidity position: A company’s ability to meet its short-term obligations with its available liquid assets.
– Stock buyback program: A plan authorized by a company’s board of directors to repurchase a specified number of its outstanding shares through open market transactions.
– Dividend: A distribution of a portion of a company’s earnings to its shareholders.
– Stock performance: The price movement of a company’s stock in the market.
– Research analysts: Professionals who study companies and industries to provide investment recommendations and estimates of a stock’s fair value.
– Price target: An analyst’s projection of a stock’s future price, usually based on fundamental analysis.