Jabil Inc. (NYSE:JBL) Short Interest Down 13.4% in August

Jabil Inc. (NYSE:JBL) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 4,400,000 shares, a decline of 13.4% from the August 15th total of 5,080,000 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 2.8 days.

Insider Buying and Selling at Jabil

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the sale, the senior vice president now directly owns 24,829 shares in the company, valued at $2,905,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the 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 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 owned by company insiders.

Hedge Funds Weigh In On Jabil

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of Jabil by 73.6% in the 4th quarter. Private Advisor Group LLC now owns 2,288 shares of the technology company’s stock worth $291,000 after buying an additional 970 shares in the last quarter. Principal Securities Inc. bought a new stake in Jabil during the fourth quarter worth approximately $51,000. BNP Paribas Financial Markets raised its position in Jabil by 229.9% during the fourth quarter. BNP Paribas Financial Markets now owns 40,999 shares of the technology company’s stock valued at $5,223,000 after purchasing an additional 28,572 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Jabil by 6.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,128 shares of the technology company’s stock valued at $2,054,000 after purchasing an additional 912 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in shares of Jabil by 2.5% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock worth $430,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

JBL traded up $1.02 during trading on Wednesday, reaching $107.85. 1,346,857 shares of the company traded hands, compared to its average volume of 1,450,621. The company has a market cap of $12.24 billion, a P/E ratio of 9.81, a PEG ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. Jabil has a 12-month low of $95.85 and a 12-month high of $156.94. The firm has a fifty day simple moving average of $107.29 and a 200 day simple moving average of $118.27.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. Jabil’s quarterly revenue was down 20.2% on a year-over-year basis. During the same period last year, the company posted $1.85 earnings per share. On average, equities analysts forecast that Jabil will post 7.86 EPS for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. Jabil’s dividend payout ratio is currently 2.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Bank of America cut their price target on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Barclays cut their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Stifel Nicolaus reduced their target price on shares of Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

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).