Jabil (NYSE:JBL) Director Sells $1,514,040.00 in Stock

Key Points

• Jabil's Director Steven Raymund sold 12,400 shares of the company's stock for a total of $1,514,040, reducing his position by 7.79%.
• Jabil recently declared a quarterly dividend of $0.08, resulting in an annual yield of 0.1%.
• Wall Street analysts have increased their price targets for Jabil, with expectations ranging from $241 to $267, and an average recommendation of "Moderate Buy."

Jabil, Inc. (NYSE:JBL - Get Free Report) Director Steven Raymund sold 12,400 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.10, for a total transaction of $1,514,040.00. Following the completion of the sale, the director directly owned 146,708 shares of the company's stock, valued at approximately $17,913,046.80. The trade was a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Jabil Price Performance

NYSE JBL traded up $1.05 on Thursday, hitting $215.89. The company had a trading volume of 1,326,567 shares, compared to its average volume of 1,443,501. The company has a market capitalization of $23.17 billion, a PE ratio of 36.22, a PEG ratio of 1.54 and a beta of 1.26. The company's fifty day moving average price is $216.05 and its 200-day moving average price is $185.83. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.00 and a quick ratio of 0.66. Jabil, Inc. has a 12-month low of $108.66 and a 12-month high of $237.14.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's payout ratio is presently 5.37%.

Institutional Investors Weigh In On Jabil

Hedge funds have recently modified their holdings of the company. GFG Capital LLC purchased a new stake in shares of Jabil in the second quarter valued at about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Jabil in the first quarter valued at about $27,000. Harbor Capital Advisors Inc. grew its holdings in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after purchasing an additional 116 shares during the period. Traub Capital Management LLC purchased a new stake in shares of Jabil in the second quarter valued at about $33,000. Finally, Groupe la Francaise grew its holdings in shares of Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 93.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JBL. Bank of America boosted their price target on shares of Jabil from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, September 26th. UBS Group set a $241.00 target price on shares of Jabil in a report on Sunday. JPMorgan Chase & Co. upped their target price on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Barclays upped their target price on shares of Jabil from $223.00 to $267.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Finally, The Goldman Sachs Group upped 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 equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $248.43.

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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