Short Interest in Jabil Inc. (NYSE:JBL) Expands By 9.5%

Jabil Inc. (NYSE:JBL) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 3,800,000 shares, an increase of 9.5% from the September 30th total of 3,470,000 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 2.6 days.

Insider Activity

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Jabil news, EVP Matthew Crowley sold 2,271 shares of Jabil stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $123.54, for a total value of $280,559.34. Following the completion of the sale, the executive vice president now directly owns 15,564 shares of the company’s stock, valued at approximately $1,922,776.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,651 shares of company stock valued at $3,423,005. 2.62% of the stock is currently owned by insiders.

Institutional Trading of Jabil

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new position in shares of Jabil in the second quarter worth about $28,000. ORG Partners LLC purchased a new position in Jabil in the 1st quarter worth approximately $29,000. Innealta Capital LLC bought a new stake in Jabil in the second quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of Jabil in the second quarter worth approximately $37,000. Finally, Matrix Trust Co increased its stake in shares of Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

Shares of NYSE JBL traded down $0.89 during mid-day trading on Thursday, reaching $123.09. 2,038,780 shares of the company’s stock were exchanged, compared to its average volume of 1,464,326. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. Jabil has a 52 week low of $95.85 and a 52 week high of $156.94. The firm has a 50-day moving average price of $115.60 and a two-hundred day moving average price of $114.76.

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

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

Analysts Set New Price Targets

JBL has been the topic of a number of research reports. Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Bank of America upped their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus upped their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average target price of $143.50.

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).