Short Interest in Jabil Inc. (NYSE:JBL) Expands By 9.5%

Jabil Inc. (NYSE:JBL) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 3,800,000 shares, an increase of 9.5% from the September 30th total of 3,470,000 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is presently 2.6 days.

Insider Buying and Selling at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Matthew Crowley sold 1,380 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,651 shares of company stock worth $3,423,005 over the last ninety days. 2.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jabil

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Foster & Motley Inc. increased its position in Jabil by 8.7% in the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after acquiring an additional 4,181 shares during the period. Radnor Capital Management LLC bought a new stake in shares of Jabil in the third quarter worth $336,000. QRG Capital Management Inc. increased its holdings in Jabil by 12.8% in the third quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company’s stock valued at $716,000 after purchasing an additional 680 shares during the period. Asset Management One Co. Ltd. raised its position in Jabil by 21.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 56,008 shares of the technology company’s stock worth $6,711,000 after purchasing an additional 10,026 shares during the last quarter. Finally, National Pension Service bought a new position in Jabil during the 3rd quarter worth $2,794,000. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

JBL has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Bank of America boosted their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus raised their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Barclays boosted their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Price Performance

Shares of Jabil stock traded down $0.89 on Thursday, reaching $123.09. 2,038,780 shares of the stock were exchanged, compared to its average volume of 1,464,326. The firm’s 50 day moving average is $115.60 and its 200-day moving average is $114.76. The firm has a market cap of $13.96 billion, a PE ratio of 11.17, a P/E/G ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. Jabil has a one year low of $95.85 and a one year high of $156.94.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter last year, the business posted $2.34 EPS. The company’s revenue was down 17.7% compared to the same quarter last year. As a group, analysts anticipate that Jabil will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. 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 Friday, November 15th. Jabil’s payout ratio is 2.90%.

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).