Jabil (NYSE:JBL) Chairman Sells $4,296,800.00 in Stock

Key Points

• Jabil's Chairman, Mark Mondello, sold 20,000 shares of the company's stock for approximately $4.3 million, reducing his ownership by 1.43% to 1,380,190 shares valued at around $296.5 million.
• Jabil's stock is currently trading at $202.22 after a 6.2% decrease, with a market capitalization of $21.70 billion and a PE ratio of 33.93.
• The company recently announced a quarterly dividend of $0.08 per share, representing a 0.2% yield, with a payout ratio of 5.37%.

Jabil, Inc. (NYSE:JBL - Get Free Report) Chairman Mark Mondello sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $214.84, for a total value of $4,296,800.00. Following the completion of the transaction, the chairman owned 1,380,190 shares in the company, valued at approximately $296,520,019.60. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Jabil Trading Down 6.2%

JBL stock traded down $13.48 during midday trading on Friday, hitting $202.22. 2,049,660 shares of the company's stock were exchanged, compared to its average volume of 1,665,396. Jabil, Inc. has a 1-year low of $108.66 and a 1-year high of $237.14. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.57. The business has a 50-day simple moving average of $215.60 and a two-hundred day simple moving average of $186.82. The stock has a market capitalization of $21.70 billion, a PE ratio of 33.93, a P/E/G ratio of 1.53 and a beta of 1.26.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's payout ratio is presently 5.37%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Jabil in a research note on Saturday, September 27th. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. UBS Group set a $241.00 price target on Jabil in a report on Sunday. Bank of America lifted their price target on Jabil from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Finally, Raymond James Financial set a $260.00 price target on Jabil in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $248.43.

Institutional Trading of Jabil

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. grew its holdings in shares of Jabil by 84.8% in 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 acquiring an additional 6,225 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Jabil by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock worth $33,062,000 after acquiring an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in shares of 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 during the period. OneDigital Investment Advisors LLC acquired a new stake in Jabil during the 1st quarter valued at $214,000. Finally, QRG Capital Management Inc. grew its holdings in Jabil by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock valued at $813,000 after buying an additional 132 shares during the last quarter. 93.39% of the stock is 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).

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