Short Interest in Jabil Inc. (NYSE:JBL) Decreases By 13.4%

Jabil Inc. (NYSE:JBL) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 4,400,000 shares, a decrease of 13.4% from the August 15th total of 5,080,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 4.0% of the shares of the stock are sold short.

Jabil Trading Up 1.0 %

NYSE:JBL traded up $1.02 during midday trading on Wednesday, reaching $107.85. 1,346,857 shares of the stock traded hands, compared to its average volume of 1,450,621. The stock has a market capitalization of $12.24 billion, a P/E ratio of 9.81, a PEG ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The company has a fifty day moving average of $107.29 and a 200 day moving average of $118.27. Jabil has a 12 month low of $95.85 and a 12 month high of $156.94.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. Jabil’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. On average, research analysts predict that Jabil will post 7.86 EPS for the current year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. Jabil’s dividend payout ratio is presently 2.91%.

Wall Street Analysts Forecast Growth

JBL has been the topic of a number of research reports. UBS Group lowered their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus decreased their price objective on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays cut their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Bank of America reduced their target price on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $139.88.

Insider Activity

In other news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.

Institutional Trading of Jabil

Several large investors have recently added to or reduced their stakes in JBL. Benjamin Edwards Inc. purchased a new stake in shares of Jabil in the 1st quarter worth about $25,000. Activest Wealth Management bought a new stake in Jabil during the 1st quarter valued at approximately $28,000. HHM Wealth Advisors LLC purchased a new position in shares of Jabil during the 2nd quarter worth approximately $28,000. ORG Partners LLC bought a new position in shares of Jabil in the 1st quarter worth approximately $29,000. Finally, Innealta Capital LLC purchased a new position in shares of Jabil in the 2nd quarter valued at approximately $31,000. Institutional investors own 93.39% of the company’s stock.

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).