Insider Selling: Jabil (NYSE:JBL) Director Sells 12,400 Shares of Stock

Jabil, Inc. (NYSE:JBL) Director Steven Raymund sold 12,400 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 146,708 shares of the company’s stock, valued at $17,913,046.80. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Jabil Trading Down 6.2%

Shares of NYSE:JBL opened at $202.22 on Friday. The stock has a market capitalization of $21.70 billion, a PE ratio of 33.93, a P/E/G ratio of 1.43 and a beta of 1.26. Jabil, Inc. has a 1 year low of $108.66 and a 1 year high of $237.14. The firm has a fifty day moving average price of $215.60 and a 200 day moving average price of $187.15. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.57.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a $0.08 dividend. 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 dividend payout ratio is currently 5.37%.

Institutional Investors Weigh In On Jabil

Several hedge funds have recently made changes to their positions in JBL. GFG Capital LLC bought a new stake in shares of Jabil in the second quarter valued at about $26,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Jabil in the first quarter valued at about $27,000. Harbor Capital Advisors Inc. lifted its stake 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 period. Traub Capital Management LLC bought a new stake in shares of Jabil in the second quarter valued at about $33,000. Finally, Groupe la Francaise lifted its stake 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 period. Institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JBL shares. Stifel Nicolaus started coverage on shares of Jabil in a report on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price objective for the company. Zacks Research cut shares of Jabil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. The Goldman Sachs Group upped their price target on shares of Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Barclays upped their price target on shares of Jabil from $223.00 to $267.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average target price of $248.43.

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).