Insider Selling: Jabil Inc (NYSE:JBL) CEO Sells 9,723 Shares of Stock

Jabil Inc (NYSE:JBL) CEO Alessandro Parimbelli sold 9,723 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $36.22, for a total value of $352,167.06. Following the sale, the chief executive officer now directly owns 293,073 shares in the company, valued at $10,615,104.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

JBL traded up $0.32 on Thursday, hitting $36.36. 646,056 shares of the company’s stock traded hands, compared to its average volume of 1,340,711. The company’s 50 day simple moving average is $32.42 and its 200-day simple moving average is $29.85. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.20 and a beta of 0.97. Jabil Inc has a one year low of $21.49 and a one year high of $36.68. The company has a current ratio of 0.98, a quick ratio of 0.62 and a debt-to-equity ratio of 1.12.

Jabil (NYSE:JBL) last issued its earnings results on Tuesday, September 24th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. The company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.63 billion. Jabil had a return on equity of 15.90% and a net margin of 1.14%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. As a group, equities analysts anticipate that Jabil Inc will post 2.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.88%. Jabil’s dividend payout ratio (DPR) is presently 17.68%.

JBL has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Jabil from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Jabil from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, September 25th. Zacks Investment Research cut Jabil from a “hold” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research report on Wednesday, June 19th. Bank of America lifted their price objective on Jabil from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Argus lifted their price objective on Jabil from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Jabil has a consensus rating of “Hold” and a consensus target price of $33.67.

A number of institutional investors and hedge funds have recently modified their holdings of JBL. Arcadia Investment Management Corp MI bought a new stake in Jabil in the 2nd quarter worth approximately $28,000. Private Capital Group LLC increased its stake in Jabil by 1,804.5% in the 2nd quarter. Private Capital Group LLC now owns 1,276 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,209 shares during the last quarter. Advisory Services Network LLC increased its stake in Jabil by 57.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,238 shares of the technology company’s stock worth $39,000 after acquiring an additional 450 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Jabil in the 2nd quarter worth approximately $42,000. Finally, Doyle Wealth Management purchased a new position in shares of Jabil in the 2nd quarter worth approximately $93,000. 88.72% of the stock is currently owned by institutional investors.

About Jabil

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Insider Buying and Selling by Quarter for Jabil (NYSE:JBL)

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