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

Key Points

• Mark T. Mondello, Chairman of Jabil, Inc., sold 20,000 shares at an average price of $219.20, totaling $4.38 million, reducing his ownership by 1.39% while he retains over 1.4 million shares valued at approximately $311 million.
• Jabil's stock recently experienced a 1.2% decline, with a market cap of nearly $23.57 billion and a 52-week price range between $97.95 and $232.84.
• Analysts maintain a consensus rating of "Buy" for Jabil's stock, with target prices ranging from $214 to $256 set by various firms including JPMorgan Chase and Bank of America.

Jabil, Inc. (NYSE:JBL - Get Free Report) Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $219.20, for a total transaction of $4,384,000.00. Following the transaction, the chairman owned 1,420,190 shares of the company's stock, valued at $311,305,648. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jabil Stock Performance

Jabil stock traded up $1.04 during midday trading on Wednesday, reaching $220.65. The stock had a trading volume of 1,128,814 shares, compared to its average volume of 1,226,026. 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 firm has a market capitalization of $23.68 billion, a PE ratio of 42.84, a P/E/G ratio of 1.53 and a beta of 1.20. Jabil, Inc. has a 12 month low of $97.96 and a 12 month high of $232.84. The firm's 50-day moving average price is $206.29 and its 200 day moving average price is $169.80.

Jabil (NYSE:JBL - Get Free Report) last posted 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. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 earnings per share. As a group, research analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus began coverage on Jabil in a report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price on the stock. Barclays increased their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. UBS Group boosted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $231.71.

Hedge Funds Weigh In On Jabil

Several hedge funds have recently made changes to their positions in JBL. GFG Capital LLC bought a new position in Jabil in the 2nd quarter valued at $26,000. Assetmark Inc. increased its stake in Jabil by 45.8% in the 2nd quarter. Assetmark Inc. now owns 156 shares of the technology company's stock worth $34,000 after acquiring an additional 49 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of Jabil by 757.1% in the 2nd quarter. Westside Investment Management Inc. now owns 180 shares of the technology company's stock valued at $39,000 after acquiring an additional 159 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Jabil by 45.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 189 shares of the technology company's stock valued at $41,000 after acquiring an additional 59 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Jabil in the first quarter worth approximately $27,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

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).