Jabil Inc (NYSE:JBL) Short Interest Down 10.0% in July

Jabil Inc (NYSE:JBL) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 4,102,500 shares, a drop of 10.0% from the June 15th total of 4,560,400 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.0% of the company’s shares are sold short.

In other Jabil news, CEO Alessandro Parimbelli sold 3,500 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $30.78, for a total transaction of $107,730.00. Following the transaction, the chief executive officer now owns 317,292 shares of the company’s stock, valued at $9,766,247.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Courtney J. Ryan sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $32.00, for a total transaction of $640,000.00. Following the transaction, the executive vice president now directly owns 316,909 shares in the company, valued at approximately $10,141,088. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,500 shares of company stock worth $1,158,595. 2.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management lifted its position in Jabil by 6.0% in the 1st quarter. LSV Asset Management now owns 6,537,449 shares of the technology company’s stock valued at $173,830,000 after purchasing an additional 371,247 shares during the last quarter. FMR LLC lifted its position in Jabil by 38.7% in the 1st quarter. FMR LLC now owns 6,368,324 shares of the technology company’s stock valued at $169,335,000 after purchasing an additional 1,775,742 shares during the last quarter. Norges Bank bought a new stake in Jabil in the 4th quarter valued at about $46,681,000. Wells Fargo & Company MN lifted its position in Jabil by 5.8% in the 1st quarter. Wells Fargo & Company MN now owns 1,798,599 shares of the technology company’s stock valued at $47,825,000 after purchasing an additional 98,510 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Jabil by 47.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,084,776 shares of the technology company’s stock valued at $28,844,000 after purchasing an additional 348,320 shares during the last quarter. 89.34% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on JBL shares. Zacks Investment Research downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Raymond James reaffirmed a “sell” rating and set a $0.25 price target on shares of Bellatrix Exploration in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Jabil currently has a consensus rating of “Hold” and an average target price of $29.33.

Jabil stock traded up $0.18 during midday trading on Tuesday, hitting $31.41. 749,076 shares of the stock were exchanged, compared to its average volume of 1,302,137. Jabil has a 1 year low of $21.49 and a 1 year high of $32.24. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.20 and a beta of 0.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.61 and a current ratio of 1.01. The company has a 50 day simple moving average of $30.25.

Jabil (NYSE:JBL) last released its quarterly earnings results on Tuesday, June 18th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6.01 billion. Jabil had a net margin of 0.72% and a return on equity of 18.57%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, equities research analysts anticipate that Jabil will post 2.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Wednesday, August 14th. Jabil’s dividend payout ratio (DPR) is presently 14.75%.

Jabil Company Profile

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

Recommended Story: Resistance Level

Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.