Jabil Inc. (NYSE:JBL) CEO Kenneth S. Wilson Sells 20,000 Shares

Jabil Inc. (NYSE:JBL) CEO Kenneth S. Wilson sold 20,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $126.32, for a total transaction of $2,526,400.00. Following the sale, the chief executive officer now owns 364,725 shares of the company’s stock, valued at approximately $46,072,062. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jabil Trading Up 1.0 %

Shares of Jabil stock opened at $129.52 on Tuesday. Jabil Inc. has a 12-month low of $64.74 and a 12-month high of $141.38. The company has a current ratio of 1.16, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. The stock has a market cap of $16.57 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.23 and a beta of 1.41. The company has a 50-day moving average of $121.48 and a two-hundred day moving average of $107.66.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 28th. The technology company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.13. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Jabil had a net margin of 2.36% and a return on equity of 38.02%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.25 earnings per share. On average, research analysts anticipate that Jabil Inc. will post 8.67 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Wednesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil’s dividend payout ratio is presently 5.33%.

Jabil announced that its board has approved a stock repurchase plan on Thursday, September 28th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 15.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Jabil

Several large investors have recently modified their holdings of JBL. Wellington Management Group LLP acquired a new stake in shares of Jabil in the first quarter valued at approximately $384,818,000. JPMorgan Chase & Co. boosted its position in Jabil by 71.2% during the first quarter. JPMorgan Chase & Co. now owns 6,232,495 shares of the technology company’s stock worth $549,457,000 after acquiring an additional 2,591,893 shares during the last quarter. FMR LLC boosted its position in Jabil by 27.5% during the first quarter. FMR LLC now owns 8,552,930 shares of the technology company’s stock worth $754,026,000 after acquiring an additional 1,844,254 shares during the last quarter. Norges Bank acquired a new stake in Jabil during the fourth quarter worth approximately $102,656,000. Finally, Invesco Ltd. boosted its position in Jabil by 230.6% during the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock worth $115,018,000 after acquiring an additional 1,299,593 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JBL has been the subject of several recent research reports. Bank of America increased their target price on shares of Jabil from $126.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. Argus increased their price target on shares of Jabil from $125.00 to $145.00 in a report on Friday, September 29th. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Barclays increased their price target on shares of Jabil from $134.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, September 29th. Finally, Stifel Nicolaus increased their price target on shares of Jabil from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Jabil has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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).