Mark T. Mondello Sells 60,000 Shares of Jabil Inc. (NYSE:JBL) Stock

Posted by Defense World Staff on Oct 14th, 2023

Jabil Inc. (NYSE:JBL – Get Free Report) Chairman Mark T. Mondello sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $134.83, for a total value of $8,089,800.00. Following the completion of the sale, the chairman now owns 2,025,480 shares of the company’s stock, valued at approximately $273,095,468.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jabil Trading Down 2.2 %

Shares of JBL stock opened at $135.99 on Friday. The business’s fifty day moving average price is $113.47 and its 200 day moving average price is $100.85. Jabil Inc. has a 1-year low of $58.21 and a 1-year high of $141.38. The firm has a market capitalization of $17.80 billion, a PE ratio of 22.67, a P/E/G ratio of 1.29 and a beta of 1.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.16 and a quick ratio of 0.75.

Jabil (NYSE:JBL – Get Free Report) last announced its quarterly earnings data on Thursday, September 28th. The technology company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.13. Jabil had a return on equity of 38.02% and a net margin of 2.36%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. Jabil’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Jabil Inc. will post 8.65 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Tuesday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Monday, August 14th. Jabil’s dividend payout ratio is presently 5.33%.

Jabil announced that its board has authorized a stock buyback plan on Thursday, September 28th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 15.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Jabil

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Jabil by 106.9% in the third quarter. SG Americas Securities LLC now owns 19,578 shares of the technology company’s stock valued at $2,484,000 after purchasing an additional 10,114 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Jabil by 3.4% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,089 shares of the technology company’s stock valued at $2,041,000 after purchasing an additional 535 shares during the last quarter. HB Wealth Management LLC acquired a new stake in Jabil in the third quarter valued at $267,000. Ritholtz Wealth Management grew its holdings in Jabil by 13.2% in the third quarter. Ritholtz Wealth Management now owns 18,200 shares of the technology company’s stock valued at $2,309,000 after purchasing an additional 2,117 shares during the last quarter. Finally, DnB Asset Management AS purchased a new stake in shares of Jabil in the third quarter valued at $4,185,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JBL shares. Barclays boosted their price objective on Jabil from $134.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, September 29th. Bank of America upped their price target on Jabil from $126.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. Raymond James upped their price target on Jabil from $120.00 to $160.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Friday. Finally, VNET Group restated a “maintains” rating on shares of Jabil in a research note on Friday, June 16th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $120.00.

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Jabil Company Profile

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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).