Jabil (NYSE:JBL) Stock Price Down 5.2% on Insider Selling

Key Points

• Jabil's stock price decreased by 5.2% following insider selling by Director Steven A. Raymund, who sold 12,400 shares for over $1.5 million.
• Despite the recent drop, several analysts have set target prices above the current market level, with Goldman Sachs raising its target from $188 to $215.
• Jabil recently declared a quarterly dividend of $0.08 per share, representing a 0.2% yield and a payout ratio of 5.37%.

Jabil, Inc. (NYSE:JBL - Get Free Report) dropped 5.2% during trading on Friday following insider selling activity. The company traded as low as $206.75 and last traded at $204.53. Approximately 690,396 shares were traded during trading, a decline of 52% from the average daily volume of 1,439,185 shares. The stock had previously closed at $215.69.

Specifically, Director Steven A. Raymund sold 12,400 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.10, for a total value of $1,514,040.00. Following the completion of the sale, the director owned 146,708 shares in the company, valued at $17,913,046.80. This represents a 7.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price 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. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. UBS Group set a $241.00 target price on shares of Jabil in a report on Sunday. Raymond James Financial set a $260.00 price target on shares of Jabil in a report on Thursday, September 25th. Finally, Bank of America raised their price objective on Jabil from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $248.43.

Jabil Stock Performance

The stock has a market cap of $21.88 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 1.53 and a beta of 1.26. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The firm has a 50 day moving average price of $216.00 and a 200 day moving average price of $186.36.

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 payout ratio is presently 5.37%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. GFG Capital LLC purchased a new stake in shares of Jabil during the second quarter worth approximately $26,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Jabil during the 1st quarter worth $27,000. Harbor Capital Advisors Inc. grew its holdings 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 worth $30,000 after purchasing an additional 116 shares during the period. Traub Capital Management LLC acquired a new position in Jabil during the 2nd quarter worth about $33,000. Finally, Groupe la Francaise lifted its stake in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after acquiring an additional 64 shares in 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).

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