Insider Selling: Jabil, Inc. (NYSE:JBL) Chairman Sells 20,000 Shares of Stock

Jabil, Inc. (NYSE:JBL - Get Free Report) Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total transaction of $4,331,800.00. Following the completion of the sale, the chairman owned 1,440,190 shares in the company, valued at $311,930,752.10. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Jabil Stock Up 2.2%

Shares of JBL stock traded up $4.90 on Thursday, hitting $226.79. 511,920 shares of the stock were exchanged, compared to its average volume of 1,414,961. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $24.34 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $227.50. The business has a 50-day moving average of $175.18 and a 200 day moving average of $157.42.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. Equities analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.14%. Jabil's payout ratio is currently 6.21%.

Hedge Funds Weigh In On Jabil

A number of large investors have recently modified their holdings of JBL. SBI Securities Co. Ltd. bought a new stake in Jabil during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Jabil during the 1st quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Jabil during the 4th quarter worth approximately $29,000. Harbor Capital Advisors Inc. raised its stake in shares of Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Finally, Groupe la Francaise boosted its holdings in shares of Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after buying an additional 64 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JBL. UBS Group lifted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Bank of America raised their price target on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. boosted their price objective on Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group increased their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Jabil currently has an average rating of "Buy" and a consensus price target of $225.71.

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).