Insider Selling: Jabil, Inc. (NYSE:JBL) EVP Sells 4,500 Shares of Stock

Key Points

• Frederic E. Mccoy, EVP of Jabil, Inc., sold 4,500 shares of stock at an average price of $223.55, totaling approximately $1 million, which reduced his stake by 3.50%.
• Jabil's stock recently increased by 1.8%, trading at $222.33, following a positive quarterly earnings report with an EPS of $2.55, surpassing analysts' predictions.
• Several research firms have upgraded their ratings on Jabil, with Bank of America increasing its target price from $225.00 to $245.00 and maintaining a "buy" rating on the stock.

Jabil, Inc. (NYSE:JBL - Get Free Report) EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the sale, the executive vice president owned 124,203 shares in the company, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jabil Stock Up 1.8%

Shares of JBL traded up $3.92 during mid-day trading on Friday, reaching $222.33. The company's stock had a trading volume of 854,384 shares, compared to its average volume of 1,390,671. Jabil, Inc. has a 1 year low of $95.85 and a 1 year high of $229.16. 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 price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The business has a fifty day moving average of $198.29 and a 200 day moving average of $166.49.

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

Analyst Ratings Changes

Several research firms have commented on JBL. Raymond James Financial restated a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Barclays upped their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Bank of America raised their target price on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group raised their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $231.71.

Hedge Funds Weigh In On Jabil

A number of hedge funds have recently added to or reduced their stakes in JBL. GFG Capital LLC acquired a new position in shares of Jabil during the 2nd quarter worth $26,000. Creative Financial Designs Inc. ADV bought a new stake in Jabil in the first quarter worth $27,000. Murphy & Mullick Capital Management Corp bought a new stake in Jabil in the fourth quarter worth $29,000. Harbor Capital Advisors Inc. boosted its holdings in Jabil by 110.5% in the first 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 stake in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after acquiring an additional 64 shares in 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).

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