Jabil, Inc. (NYSE:JBL – Get Free Report) shares shot up 5% on Friday. The company traded as high as $328.99 and last traded at $326.0940. 138,141 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,191,734 shares. The stock had previously closed at $310.69.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on JBL. Zacks Research cut Jabil from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Barclays raised their price objective on shares of Jabil from $304.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Stifel Nicolaus set a $460.00 price target on shares of Jabil and gave the company a “buy” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Jabil from $395.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. Finally, The Goldman Sachs Group decreased their price objective on Jabil from $482.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $441.78.
Check Out Our Latest Stock Analysis on JBL
Jabil Price Performance
Jabil Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Friday, August 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. Jabil’s payout ratio is presently 4.00%.
Insider Buying and Selling
In other Jabil news, EVP Matthew Crowley sold 94 shares of Jabil stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $345.00, for a total value of $32,430.00. Following the completion of the transaction, the executive vice president directly owned 57,536 shares of the company’s stock, valued at $19,849,920. The trade was a 0.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.35% of the stock is owned by company insiders.
Institutional Investors Weigh In On Jabil
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Jabil during the 2nd quarter worth about $3,905,704,000. Primecap Management Co. CA purchased a new position in Jabil in the second quarter valued at approximately $1,220,861,000. Norges Bank acquired a new stake in Jabil during the fourth quarter worth approximately $407,299,000. Bank of America Corp DE acquired a new stake in Jabil during the second quarter worth approximately $447,882,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Jabil during the 2nd quarter worth approximately $411,079,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.
Jabil Company Profile
Jabil Inc is a global manufacturing and technology solutions provider that helps companies design, manufacture and manage products across their lifecycles. Its services include product and process engineering, supply-chain management, procurement, manufacturing, assembly, testing, packaging and aftermarket services.
The company supports customers in a range of industries, including cloud and data infrastructure, automotive, healthcare, connected devices, consumer products, energy and industrial applications.
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