Andrew Priestley Sells 3,702 Shares of Jabil, Inc. (NYSE:JBL) Stock

Key Points

• Andrew Priestley, EVP of Jabil, Inc., sold 3,702 shares of the company's stock on July 23rd for a total value of $832,950, resulting in a 7.63% decrease in his ownership.
• Jabil's recent quarterly earnings exceeded expectations, reporting $2.55 EPS against estimates of $2.28, with revenues of $7.83 billion, a 15.7% increase year-over-year.
• Jabil has received various analyst ratings recently, with a consensus rating of "Buy" and an average price target of $231.71.

Jabil, Inc. (NYSE:JBL - Get Free Report) EVP Andrew Priestley sold 3,702 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total value of $832,950.00. Following the completion of the sale, the executive vice president owned 44,833 shares in the company, valued at $10,087,425. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Andrew Priestley also recently made the following trade(s):

• On Monday, July 21st, Andrew Priestley sold 3,782 shares of Jabil stock. The stock was sold at an average price of $225.00, for a total value of $850,950.00.
• On Wednesday, June 18th, Andrew Priestley sold 13,913 shares of Jabil stock. The stock was sold at an average price of $203.17, for a total value of $2,826,704.21.

Jabil Stock Performance

Jabil stock traded up $3.92 during mid-day trading on Friday, hitting $222.33. 854,384 shares of the company's stock traded hands, compared to its average volume of 1,390,671. The firm has a 50 day moving average price of $198.29 and a 200 day moving average price of $166.49. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The company has a market cap of $23.86 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. Jabil, Inc. has a one year low of $95.85 and a one year high of $229.16.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same period last year, the firm earned $1.89 EPS. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Jabil, Inc. will post 8.05 EPS for the current year.

Hedge Funds Weigh In On Jabil

A number of hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its position in Jabil by 84.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after purchasing an additional 6,225 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Jabil by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock valued at $33,062,000 after buying an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in Jabil by 7.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock worth $453,000 after acquiring an additional 217 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Jabil in the 1st quarter worth about $214,000. Finally, QRG Capital Management Inc. boosted its position in Jabil by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after acquiring an additional 132 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JBL has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price on the stock. The Goldman Sachs Group boosted their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 target price (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Finally, Bank of America increased their target price on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $231.71.

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).

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