Jabil Inc. (NYSE:JBL) Sees Large Decrease in Short Interest

Jabil Inc. (NYSE:JBL) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,860,000 shares, a drop of 13.5% from the March 15th total of 5,620,000 shares. Currently, 4.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is currently 3.7 days.

Jabil Stock Down 0.5 %

JBL traded down $0.67 during trading on Tuesday, hitting $131.99. 802,532 shares of the company’s stock traded hands, compared to its average volume of 1,335,779. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.43 and a beta of 1.40. The company’s 50 day simple moving average is $138.61 and its two-hundred day simple moving average is $131.22. Jabil has a 12-month low of $75.48 and a 12-month high of $156.94. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

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

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Thursday, February 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio (DPR) is 2.75%.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Jabil 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 transaction of $3,853,656.00. Following the sale, the director now directly owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,177 shares of company stock worth $11,665,039. 2.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jabil

A number of large investors have recently added to or reduced their stakes in JBL. Hennessy Advisors Inc. lifted its stake in shares of Jabil by 6.6% in the 1st quarter. Hennessy Advisors Inc. now owns 76,306 shares of the technology company’s stock worth $10,221,000 after purchasing an additional 4,705 shares during the period. Transform Wealth LLC increased its holdings in Jabil by 8.2% during the first quarter. Transform Wealth LLC now owns 89,087 shares of the technology company’s stock valued at $11,933,000 after buying an additional 6,731 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Jabil by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,514 shares of the technology company’s stock worth $1,810,000 after acquiring an additional 561 shares during the last quarter. Signet Financial Management LLC boosted its stake in shares of Jabil by 0.7% during the 1st quarter. Signet Financial Management LLC now owns 25,843 shares of the technology company’s stock worth $3,462,000 after acquiring an additional 169 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its position in shares of Jabil by 2.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 10,605 shares of the technology company’s stock valued at $1,421,000 after acquiring an additional 234 shares during the period. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on JBL shares. Barclays dropped their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. The Goldman Sachs Group raised their target price on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Argus lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two equities 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 stock. Based on data from MarketBeat, 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).