Jabil Inc. Declares Quarterly Dividend of $0.08 (NYSE:JBL)

Jabil Inc. (NYSE:JBL) announced a quarterly dividend on Wednesday, April 17th, NASDAQ reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.08 per share by the technology company on Tuesday, June 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Tuesday, May 14th.

Jabil has a dividend payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jabil to earn $10.03 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 3.2%.

Jabil Stock Performance

Shares of JBL stock traded down $0.06 during mid-day trading on Thursday, hitting $129.59. 662,038 shares of the stock were exchanged, compared to its average volume of 1,317,825. The stock’s fifty day simple moving average is $138.57 and its two-hundred day simple moving average is $131.21. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17. Jabil has a 12-month low of $75.48 and a 12-month high of $156.94. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.40 and a beta of 1.40.

Jabil (NYSE:JBL) last released its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. On average, analysts forecast that Jabil will post 7.83 EPS for the current year.

Insider Transactions at Jabil

In related news, Director David M. Stout sold 31,300 shares of Jabil stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $123.12, for a total value of $3,853,656.00. Following the sale, the director now directly owns 67,300 shares in the company, valued at $8,285,976. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Stout sold 31,300 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the completion of the transaction, the director now directly owns 67,300 shares of the company’s stock, valued at $8,285,976. The disclosure for this sale can be found here. In the last three months, insiders sold 107,177 shares of company stock valued at $13,678,039. Corporate insiders own 2.62% of the company’s stock.

Institutional Investors Weigh In On Jabil

A number of institutional investors and hedge funds have recently modified their holdings of JBL. Amundi boosted its position in Jabil by 419.8% during the fourth quarter. Amundi now owns 421 shares of the technology company’s stock worth $32,000 after purchasing an additional 340 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in Jabil in the 1st quarter valued at about $40,000. Natixis purchased a new position in Jabil during the 4th quarter valued at about $44,000. GeoWealth Management LLC acquired a new position in Jabil during the first quarter worth about $53,000. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Jabil by 79.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 905 shares of the technology company’s stock valued at $62,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JBL. Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. The Goldman Sachs Group upped their target price on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. Barclays lowered their price target on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Finally, StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

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).