Jabil (NYSE:JBL) Trading Down 5.2% After Insider Selling

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

Specifically, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $214.84, for a total transaction of $4,296,800.00. Following the transaction, the chairman directly owned 1,380,190 shares in the company, valued at approximately $296,520,019.60. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven A. Raymund sold 12,400 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.10, for a total transaction of $1,514,040.00. Following the transaction, the director owned 146,708 shares in the company, valued at approximately $17,913,046.80. This trade represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JBL. UBS Group set a $241.00 target price on shares of Jabil in a research report on Sunday, September 28th. Stifel Nicolaus started coverage on shares of Jabil in a research report on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price objective on the stock. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday, June 18th. Raymond James Financial set a $260.00 price objective on shares of Jabil in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group lifted their price objective on shares of Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $248.43.

Jabil Trading Down 6.2%

The company has a debt-to-equity ratio of 1.57, a current ratio of 1.00 and a quick ratio of 0.66. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.53 and a beta of 1.26. The business’s 50-day simple moving average is $215.60 and its 200-day simple moving average is $186.82.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date 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%.

Hedge Funds Weigh In On Jabil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GFG Capital LLC acquired a new position in Jabil during the second quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Jabil during the first quarter worth about $27,000. Harbor Capital Advisors Inc. raised its position in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock valued at $30,000 after buying an additional 116 shares during the last quarter. Traub Capital Management LLC acquired a new position in shares of Jabil in the second quarter valued at approximately $33,000. Finally, Groupe la Francaise raised its position in shares of Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

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).