Jabil (NYSE:JBL) Sets New 12-Month High - Here's What Happened

Key Points

• Jabil's stock price reached a new 52-week high of $233.82 during trading, representing a significant increase from its previous closing price of $224.34.
• Analyst ratings are mixed, with seven analysts giving a Buy or Strong Buy rating, while Zacks downgraded the stock from Strong Buy to Hold.
• Jabil recently announced a quarterly dividend of $0.08 per share, yielding an annualized rate of 0.1% with a low dividend payout ratio of 6.21%.

Jabil, Inc. (NYSE:JBL - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $233.82 and last traded at $232.92, with a volume of 931589 shares traded. The stock had previously closed at $224.34.

Analysts Set New Price Targets

Several brokerages have issued reports on JBL. Barclays upped their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Raymond James Financial reissued a "strong-buy" rating and set a $230.00 price objective (up previously from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. One 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 stock. According to data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and an average price target of $231.71.

Jabil Price Performance

The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The company has a market capitalization of $25.16 billion, a PE ratio of 45.51, a PEG ratio of 1.32 and a beta of 1.25. The firm has a 50-day moving average of $216.51 and a 200 day moving average of $182.36.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. Jabil's dividend payout ratio (DPR) is 6.21%.

Insider Activity at Jabil

In other Jabil news, Director Steven A. Raymund sold 13,432 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the transaction, the director directly owned 86,396 shares of the company's stock, valued at approximately $19,275,811.56. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Priestley sold 3,702 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $225.00, for a total value of $832,950.00. Following the completion of the transaction, the executive vice president directly owned 44,833 shares in the company, valued at $10,087,425. The trade was a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,371 shares of company stock valued at $22,085,161 over the last three months. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JBL. GFG Capital LLC purchased a new position in Jabil in the second quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Jabil during the 1st quarter valued at about $27,000. Harbor Capital Advisors Inc. lifted its position in shares of Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after buying an additional 116 shares in the last quarter. Traub Capital Management LLC purchased a new position in shares of Jabil during the 2nd quarter valued at about $33,000. Finally, Groupe la Francaise lifted its position in shares of Jabil by 35.2% during 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 in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Company Profile

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).