Jabil Inc. (NYSE:JBL) CEO Sells $154,552.37 in Stock

Jabil Inc. (NYSE:JBLGet Rating) CEO Frederic E. Mccoy sold 2,009 shares of the company’s stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $76.93, for a total value of $154,552.37. Following the completion of the transaction, the chief executive officer now directly owns 110,967 shares of the company’s stock, valued at approximately $8,536,691.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Jabil Trading Up 2.1 %

Shares of JBL opened at $77.66 on Monday. The stock has a market cap of $10.35 billion, a PE ratio of 11.27, a PEG ratio of 0.86 and a beta of 1.37. Jabil Inc. has a 1 year low of $48.80 and a 1 year high of $77.69. The stock has a 50 day simple moving average of $69.36 and a 200-day simple moving average of $62.63. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 1.02.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Tuesday, November 15th were given a dividend of $0.08 per share. The ex-dividend date was Monday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Jabil’s dividend payout ratio (DPR) is presently 4.64%.

Jabil announced that its board has approved a share buyback program on Tuesday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Credit Suisse Group upped their price target on Jabil to $81.00 in a report on Wednesday, December 14th. UBS Group assumed coverage on Jabil in a report on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 target price for the company. Citigroup increased their target price on Jabil from $80.00 to $85.00 in a report on Friday, December 16th. StockNews.com assumed coverage on Jabil in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Finally, Raymond James dropped their target price on Jabil from $80.00 to $72.00 in a report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Jabil presently has a consensus rating of “Buy” and an average target price of $76.60.

Institutional Investors Weigh In On Jabil

A number of large investors have recently bought and sold shares of the business. First Hawaiian Bank grew its position in Jabil by 62.1% during the 4th quarter. First Hawaiian Bank now owns 12,491 shares of the technology company’s stock worth $852,000 after acquiring an additional 4,787 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Jabil during the 4th quarter worth approximately $461,000. State of Alaska Department of Revenue grew its position in Jabil by 1.7% during the 4th quarter. State of Alaska Department of Revenue now owns 66,127 shares of the technology company’s stock worth $4,509,000 after acquiring an additional 1,135 shares during the last quarter. Accurate Wealth Management LLC bought a new stake in Jabil during the 4th quarter worth approximately $60,000. Finally, Coldstream Capital Management Inc. bought a new stake in Jabil during the 4th quarter worth approximately $275,000. 88.45% of the stock is currently owned by institutional investors.

About Jabil

(Get Rating)

Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

Further Reading

Insider Buying and Selling by Quarter for Jabil (NYSE:JBL)

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