Daryn G. Smith Sells 16,700 Shares of Jabil Inc. (NYSE:JBL) Stock

Posted by Defense World Staff on Nov 3rd, 2023

Jabil Inc. (NYSE:JBL – Get Free Report) SVP Daryn G. Smith sold 16,700 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $122.54, for a total transaction of $2,046,418.00. Following the sale, the senior vice president now owns 39,737 shares in the company, valued at approximately $4,869,371.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jabil Stock Performance

NYSE:JBL opened at $124.95 on Friday. Jabil Inc. has a 1 year low of $61.64 and a 1 year high of $141.38. The firm’s fifty day simple moving average is $119.48 and its 200 day simple moving average is $104.97. The company has a current ratio of 1.16, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $15.99 billion, a PE ratio of 20.83, a PEG ratio of 1.18 and a beta of 1.41.

Jabil (NYSE:JBL – Get Free Report) last posted its quarterly earnings results on Thursday, September 28th. The technology company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.13. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.54 billion. Jabil had a net margin of 2.36% and a return on equity of 38.02%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. On average, sell-side analysts anticipate that Jabil Inc. will post 8.67 EPS for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, November 14th. Jabil’s payout ratio is 5.33%.

Jabil declared that its board has approved a share repurchase program on Thursday, September 28th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 15.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Jabil

A number of hedge funds and other institutional investors have recently made changes to their positions in JBL. Bessemer Group Inc. lifted its holdings in Jabil by 87.2% during the 2nd quarter. Bessemer Group Inc. now owns 234 shares of the technology company’s stock valued at $26,000 after purchasing an additional 109 shares during the last quarter. Fiduciary Alliance LLC bought a new position in shares of Jabil in the second quarter worth about $26,000. Altshuler Shaham Ltd bought a new position in shares of Jabil in the first quarter worth about $31,000. ST Germain D J Co. Inc. acquired a new stake in shares of Jabil during the 2nd quarter worth approximately $41,000. Finally, Crewe Advisors LLC grew its position in shares of Jabil by 73.3% during the 2nd quarter. Crewe Advisors LLC now owns 390 shares of the technology company’s stock worth $42,000 after buying an additional 165 shares during the period. 92.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus upped their target price on shares of Jabil from $125.00 to $145.00 in a research report on Friday, September 29th. Stifel Nicolaus increased their price objective on shares of Jabil from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 29th. Raymond James raised their target price on shares of Jabil from $120.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 11th. Barclays raised their target price on shares of Jabil from $134.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, September 29th. Finally, StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

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About Jabil

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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).