Jabil Inc. (NYSE:JBL) to Issue $0.08 Quarterly Dividend

Jabil Inc. (NYSE:JBL) announced a quarterly dividend on Wednesday, April 17th, NASDAQ reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.08 per share by the technology company on Tuesday, June 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Tuesday, May 14th.

Jabil has a payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Jabil to earn $10.03 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 3.2%.

Jabil Price Performance

Shares of JBL opened at $129.59 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. Jabil has a twelve month low of $75.48 and a twelve month high of $156.94. The stock has a market capitalization of $15.63 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.38 and a beta of 1.40. The company has a 50 day moving average of $138.45 and a 200-day moving average of $131.19.

Jabil (NYSE:JBL) last announced its earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. As a group, equities research analysts forecast that Jabil will post 7.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, March 18th. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Argus cut Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Insider Buying and Selling at Jabil

In related news, Chairman Mark T. Mondello sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David M. Stout sold 31,300 shares of Jabil stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the completion of the sale, the director now owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the transaction, the chairman now directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The disclosure for this sale can be found here. Insiders have sold 107,177 shares of company stock worth $13,678,039 over the last 90 days. Company insiders own 2.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amundi increased its holdings in Jabil by 419.8% in the 4th quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after buying an additional 340 shares during the period. Zions Bancorporation N.A. bought a new position in Jabil in the first quarter valued at approximately $40,000. Natixis acquired a new position in Jabil during the fourth quarter valued at approximately $44,000. GeoWealth Management LLC acquired a new position in Jabil during the first quarter valued at approximately $53,000. Finally, Salem Investment Counselors Inc. lifted its stake in Jabil by 79.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 905 shares of the technology company’s stock worth $62,000 after purchasing an additional 400 shares during 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).