Jabil Inc. (NYSE:JBL) Director Steven A. Raymund Sells 20,000 Shares

Jabil Inc. (NYSE:JBL) Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jabil Stock Up 0.1 %

Shares of NYSE JBL traded up $0.07 during midday trading on Monday, hitting $124.79. 742,314 shares of the company’s stock were exchanged, compared to its average volume of 1,464,482. The firm’s fifty day simple moving average is $114.27 and its 200-day simple moving average is $114.79. The company has a market cap of $14.16 billion, a PE ratio of 11.32, a P/E/G ratio of 1.46 and a beta of 1.25. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter last year, the company earned $2.34 earnings per share. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. Research analysts predict that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s payout ratio is 2.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JBL. Barclays increased their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus raised their target price on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jabil has an average rating of “Moderate Buy” and an average target price of $143.50.

Institutional Trading of Jabil

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Jabil in the 2nd quarter valued at $78,660,000. AQR Capital Management LLC raised its holdings in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after buying an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after buying an additional 310,590 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Jabil during the first quarter worth about $39,040,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Jabil by 72.0% during the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after buying an additional 205,331 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

About Jabil

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).