Jabil (NYSE:JBL) Shares Gap Up to $113.43

Jabil Inc. (NYSE:JBL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $113.43, but opened at $124.00. Jabil shares last traded at $128.13, with a volume of 791,333 shares.

Wall Street Analyst Weigh In

JBL has been the subject of a number of recent analyst reports. Bank of America dropped their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. UBS Group cut their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus decreased their price objective on shares of Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Barclays lowered their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Jabil Price Performance

The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 2.23 and a beta of 1.25. The company has a 50 day simple moving average of $106.90 and a 200-day simple moving average of $116.83. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio is presently 2.91%.

Insider Activity at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Jabil by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after buying an additional 1,427,429 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Jabil by 3.0% during the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after acquiring an additional 107,800 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Jabil by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after acquiring an additional 106,808 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after acquiring an additional 310,590 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after purchasing an additional 702,199 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

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).