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

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

Insider Buying and Selling

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction on 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 in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Jabil news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction 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 owns 24,829 shares in the company, valued at $2,905,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction 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 in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.

Institutional Trading of Jabil

Several hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Jabil during the second quarter valued at about $70,000. Creative Planning lifted its position in shares of Jabil by 4.0% during the second quarter. Creative Planning now owns 35,010 shares of the technology company’s stock valued at $3,809,000 after buying an additional 1,357 shares during the last quarter. Scientech Research LLC purchased a new stake in shares of Jabil during the second quarter valued at about $1,234,000. Mackenzie Financial Corp lifted its position in shares of Jabil by 59.9% during the second quarter. Mackenzie Financial Corp now owns 17,480 shares of the technology company’s stock valued at $1,902,000 after buying an additional 6,549 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in shares of Jabil by 151.6% during the second quarter. Maverick Capital Ltd. now owns 35,443 shares of the technology company’s stock valued at $3,856,000 after buying an additional 21,356 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America cut their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Barclays lowered their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. lowered their target price on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Finally, UBS Group lowered their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Jabil has an average rating of “Moderate Buy” and an average price target of $142.63.

Jabil Stock Down 0.7 %

NYSE:JBL traded down $0.73 during mid-day trading on Friday, reaching $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 stock has a fifty day moving average of $111.10 and a 200-day moving average of $123.26. The firm has a market capitalization of $12.06 billion, a PE ratio of 9.68, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same period in the prior year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. Equities research analysts forecast that Jabil will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

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

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).