Jabil (NYSE:JBL) Shares Gap Down to $129.59

Jabil Inc. (NYSE:JBL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $129.59, but opened at $126.87. Jabil shares last traded at $126.54, with a volume of 176,163 shares.

Analyst Ratings Changes

Several research firms have recently commented on JBL. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. The Goldman Sachs Group upped their target price on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. Barclays reduced their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Finally, StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and an average price target of $144.50.

Jabil Stock Performance

The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.38 and a beta of 1.40. The company has a 50-day moving average price of $138.03 and a 200-day moving average price of $131.15. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. As a group, equities research analysts forecast that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.75%.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The disclosure for this sale can be found here. Insiders have sold 107,177 shares of company stock worth $13,678,039 over the last quarter. 2.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. boosted its stake in shares of Jabil by 10.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,044 shares of the technology company’s stock worth $274,000 after acquiring an additional 198 shares in the last quarter. Arcus Capital Partners LLC acquired a new position in shares of Jabil in the 1st quarter valued at $257,000. DMC Group LLC purchased a new position in Jabil in the 1st quarter worth about $220,000. Monument Capital Management raised its holdings in Jabil by 1.1% during the 1st quarter. Monument Capital Management now owns 20,996 shares of the technology company’s stock worth $2,812,000 after buying an additional 226 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Jabil by 30.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock valued at $44,387,000 after buying an additional 76,573 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

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).