Jabil (NYSE:JBL) Sets New 1-Year High - Here's What Happened

Jabil, Inc. (NYSE:JBL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $211.91 and last traded at $211.94, with a volume of 560086 shares changing hands. The stock had previously closed at $208.35.

Analysts Set New Price Targets

JBL has been the topic of a number of research analyst reports. Argus upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen upgraded Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. The Goldman Sachs Group raised their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Bank of America upped their price target on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $213.57.

Jabil Trading Up 1.7%

The company has a market capitalization of $22.74 billion, a price-to-earnings ratio of 41.13, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The business's 50-day simple moving average is $165.22 and its 200-day simple moving average is $154.11.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Jabil's revenue was up 15.7% compared to the same quarter last year. On average, research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.15%. Jabil's dividend payout ratio is currently 6.21%.

Insider Activity at Jabil

In related news, Chairman Mark T. Mondello sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the completion of the transaction, the chairman now owns 1,560,192 shares in the company, valued at approximately $301,631,919.36. The trade was a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anousheh Ansari sold 2,500 shares of Jabil stock in a transaction on Friday, June 20th. The stock was sold at an average price of $207.57, for a total transaction of $518,925.00. Following the transaction, the director now directly owns 37,400 shares in the company, valued at approximately $7,763,118. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,476 shares of company stock worth $52,780,286. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBL. SBI Securities Co. Ltd. bought a new stake in Jabil in the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Jabil during the first quarter worth about $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Jabil during the fourth quarter worth about $29,000. Harbor Capital Advisors Inc. grew its holdings in shares of Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after buying an additional 116 shares in the last quarter. Finally, Groupe la Francaise raised its position in 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 owned by institutional investors and hedge funds.

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).