Jabil Inc. (NYSE:JBL - Get Rating) EVP Robert L. Katz sold 7,493 shares of the firm's stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $61.30, for a total transaction of $459,320.90. Following the transaction, the executive vice president now directly owns 149,662 shares of the company's stock, valued at approximately $9,174,280.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
NYSE JBL traded up $0.34 during mid-day trading on Monday, reaching $62.88. 917,583 shares of the stock were exchanged, compared to its average volume of 1,086,383. Jabil Inc. has a one year low of $48.80 and a one year high of $72.11. The stock has a 50 day simple moving average of $60.01 and a 200-day simple moving average of $58.17. The stock has a market cap of $8.65 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.72 and a beta of 1.35. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.02 and a quick ratio of 0.57.
Jabil (NYSE:JBL - Get Rating) last posted its quarterly earnings results on Tuesday, September 27th. The technology company reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.20. The business had revenue of $9.03 billion during the quarter, compared to analysts' expectations of $8.40 billion. Jabil had a net margin of 2.98% and a return on equity of 42.59%. The business's quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the company posted $1.16 earnings per share. On average, analysts anticipate that Jabil Inc. will post 7.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, November 14th. Jabil's payout ratio is 4.63%.
Jabil announced that its board has approved a share repurchase program on Tuesday, September 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Several equities analysts have recently issued reports on JBL shares. Credit Suisse Group started coverage on shares of Jabil in a research note on Tuesday, August 16th. They set an "outperform" rating and a $74.00 price target for the company. StockNews.com assumed coverage on shares of Jabil in a research note on Wednesday, October 12th. They set a "strong-buy" rating for the company. Finally, Raymond James lowered their target price on shares of Jabil from $80.00 to $72.00 in a research note on Wednesday, September 28th. Three investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average target price of $74.40.
A number of large investors have recently bought and sold shares of the stock. Ronald Blue Trust Inc. grew its holdings in shares of Jabil by 105.1% during the third quarter. Ronald Blue Trust Inc. now owns 2,332 shares of the technology company's stock valued at $120,000 after buying an additional 1,195 shares during the last quarter. Islay Capital Management LLC grew its holdings in shares of Jabil by 63.4% during the third quarter. Islay Capital Management LLC now owns 5,396 shares of the technology company's stock valued at $311,000 after buying an additional 2,094 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Jabil by 28.0% during the third quarter. Foundry Partners LLC now owns 182,705 shares of the technology company's stock valued at $10,544,000 after buying an additional 39,920 shares during the last quarter. Twelve Points Wealth Management LLC grew its holdings in shares of Jabil by 8.8% during the third quarter. Twelve Points Wealth Management LLC now owns 14,876 shares of the technology company's stock valued at $859,000 after buying an additional 1,200 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its holdings in shares of Jabil by 2.0% during the third quarter. Signature Estate & Investment Advisors LLC now owns 39,478 shares of the technology company's stock valued at $2,278,000 after buying an additional 769 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.
Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).
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