Short Interest in Jabil Inc. (NYSE:JBL) Declines By 15.2%

Jabil Inc. (NYSE:JBL) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 4,530,000 shares, a decrease of 15.2% from the July 15th total of 5,340,000 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Ratings Changes

JBL has been the topic of several recent analyst reports. Bank of America reduced their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note 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 note on Friday, June 21st. JPMorgan Chase & Co. cut their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Barclays cut their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.63.

Jabil Trading Down 0.7 %

Shares of Jabil stock traded down $0.73 during trading hours on Friday, hitting $106.35. The company’s stock had a trading volume of 794,991 shares, compared to its average volume of 1,466,096. Jabil has a 1-year low of $95.85 and a 1-year high of $156.94. The business has a fifty day moving average of $111.10 and a 200 day moving average of $123.26. The company has a market capitalization of $12.06 billion, a PE ratio of 9.68, a P/E/G ratio of 1.95 and a beta of 1.27. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. As a group, equities analysts forecast that Jabil will post 7.86 EPS for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.30%. The ex-dividend date is Thursday, August 15th. Jabil’s dividend payout ratio is currently 2.91%.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred 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 owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Jabil

Large investors have recently modified their holdings of the stock. Benjamin Edwards Inc. acquired a new stake in Jabil in the first quarter worth $25,000. Activest Wealth Management acquired a new stake in shares of Jabil in the 1st quarter worth about $28,000. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the 2nd quarter worth about $28,000. Alaska Permanent Fund Corp bought a new stake in Jabil in the 4th quarter valued at about $29,000. Finally, ORG Partners LLC acquired a new position in Jabil during the 1st quarter valued at about $29,000. Institutional investors 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).