Jabil (NYSE:JBL) Shares Gap Down - Here's What Happened

Key Points

• Jabil Inc. shares gapped down from a previous close of $225.28 to open at $206.71, reflecting a significant drop in early trading.
• Multiple analysts maintain a positive outlook on Jabil, with price targets ranging from $215.00 to $245.00, while the average rating is a "Moderate Buy" with a consensus target price of $231.71.
• The company declared a quarterly dividend of $0.08, which reflects an annualized yield of 0.2%, and has seen notable insider selling activity, including a significant sale by Chairman Mark T. Mondello.

Shares of Jabil, Inc. (NYSE:JBL - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $225.28, but opened at $206.71. Jabil shares last traded at $207.65, with a volume of 806,594 shares trading hands.

Wall Street Analysts Forecast Growth

JBL has been the subject of several recent research reports. Stifel Nicolaus assumed coverage on shares of Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. UBS Group increased their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Zacks Research lowered shares of Jabil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Jabil currently has an average rating of "Moderate Buy" and a consensus target price of $231.71.

Jabil Trading Down 6.3%

The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The business's fifty day simple moving average is $216.97 and its two-hundred day simple moving average is $183.02. The stock has a market capitalization of $22.64 billion, a P/E ratio of 40.94, a P/E/G ratio of 1.38 and a beta of 1.25.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Jabil's dividend payout ratio is 6.21%.

Insider Buying and Selling

In other news, EVP Andrew Priestley sold 3,782 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $225.00, for a total value of $850,950.00. Following the completion of the transaction, the executive vice president owned 48,535 shares in the company, valued at approximately $10,920,375. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total transaction of $4,000,400.00. Following the completion of the transaction, the chairman owned 1,400,190 shares of the company's stock, valued at approximately $280,066,003.80. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,371 shares of company stock worth $22,085,161. Insiders own 1.73% of the company's stock.

Hedge Funds Weigh In On Jabil

A number of hedge funds have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC grew its position in Jabil by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 4,120 shares of the technology company's stock valued at $899,000 after purchasing an additional 48 shares during the period. Assetmark Inc. lifted its stake in Jabil by 45.8% during the 2nd quarter. Assetmark Inc. now owns 156 shares of the technology company's stock valued at $34,000 after acquiring an additional 49 shares in the last quarter. AlphaCore Capital LLC raised its stake in shares of Jabil by 1.8% during the 2nd quarter. AlphaCore Capital LLC now owns 3,263 shares of the technology company's stock worth $712,000 after purchasing an additional 57 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Jabil by 45.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 189 shares of the technology company's stock worth $41,000 after purchasing an additional 59 shares during the period. Finally, Mather Group LLC. raised its stake in shares of Jabil by 5.4% during the 2nd quarter. Mather Group LLC. now owns 1,186 shares of the technology company's stock worth $259,000 after purchasing an additional 61 shares during the period. 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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