Insider Selling: Jabil Inc. (NYSE:JBL) EVP Sells 4,000 Shares of Stock

Jabil Inc. (NYSE:JBL) EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the sale, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Jabil Stock Up 0.8 %

Shares of JBL traded up $0.93 during mid-day trading on Thursday, hitting $119.90. 1,233,826 shares of the company’s stock were exchanged, compared to its average volume of 1,495,534. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a market cap of $13.60 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 2.23 and a beta of 1.25. The stock’s 50-day moving average is $107.85 and its 200-day moving average is $116.06.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. During the same period last year, the business posted $2.34 earnings per share. Jabil’s revenue was down 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Jabil Inc. will post 7.85 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Jabil’s payout ratio is 2.91%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JBL. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Stifel Nicolaus boosted their target price on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. UBS Group dropped their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Bank of America lifted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $145.86.

Institutional Trading of Jabil

Hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in shares of Jabil by 141.7% during the 1st quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock worth $2,324,000 after purchasing an additional 10,173 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Jabil by 30.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock worth $44,387,000 after acquiring an additional 76,573 shares in the last quarter. Tobam purchased a new position in shares of Jabil in the 1st quarter valued at about $1,692,000. BNP Paribas Financial Markets raised its position in shares of Jabil by 222.8% during the 1st quarter. BNP Paribas Financial Markets now owns 132,346 shares of the technology company’s stock worth $17,728,000 after acquiring an additional 91,347 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Jabil by 239.2% during the 1st quarter. CreativeOne Wealth LLC now owns 10,116 shares of the technology company’s stock worth $1,355,000 after acquiring an additional 7,134 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

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).