Jabil Inc. (NYSE:JBL) CFO Sells $883,607.10 in Stock

Jabil Inc. (NYSE:JBLGet Rating) CFO Michael Dastoor sold 10,902 shares of Jabil stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $81.05, for a total transaction of $883,607.10. Following the completion of the transaction, the chief financial officer now directly owns 176,607 shares of the company’s stock, valued at approximately $14,313,997.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Michael Dastoor also recently made the following trade(s):

  • On Wednesday, January 11th, Michael Dastoor sold 57,791 shares of Jabil stock. The shares were sold at an average price of $74.44, for a total transaction of $4,301,962.04.

Jabil Stock Performance

Jabil stock traded down $0.40 during midday trading on Tuesday, hitting $80.64. The company’s stock had a trading volume of 1,241,075 shares, compared to its average volume of 1,654,325. Jabil Inc. has a 1-year low of $48.80 and a 1-year high of $81.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57. The company has a 50-day moving average price of $71.10 and a two-hundred day moving average price of $63.80. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.85 and a beta of 1.37.

Jabil (NYSE:JBLGet Rating) last issued its quarterly earnings data on Thursday, December 15th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.28). Jabil had a return on equity of 40.43% and a net margin of 2.83%. The business had revenue of $9.64 billion during the quarter, compared to analyst estimates of $9.28 billion. As a group, sell-side analysts predict that Jabil Inc. will post 7.81 earnings per share for the current year.

Jabil declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JBL. Credit Suisse Group lifted their price objective on shares of Jabil from $81.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. Citigroup lifted their price objective on shares of Jabil from $80.00 to $85.00 in a research report on Friday, December 16th. UBS Group started coverage on shares of Jabil in a research note on Tuesday, December 13th. They set a “neutral” rating and a $76.00 target price for the company. Raymond James cut their target price on shares of Jabil from $80.00 to $72.00 in a research note on Wednesday, September 28th. Finally, StockNews.com started coverage on shares of Jabil in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $78.40.

Hedge Funds Weigh In On Jabil

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Jabil by 212.6% in the 2nd quarter. Parallel Advisors LLC now owns 669 shares of the technology company’s stock valued at $34,000 after buying an additional 455 shares in the last quarter. Field & Main Bank bought a new stake in shares of Jabil during the 3rd quarter valued at approximately $35,000. Zions Bancorporation N.A. bought a new stake in shares of Jabil during the 1st quarter valued at approximately $40,000. Accurate Wealth Management LLC bought a new stake in shares of Jabil during the 4th quarter valued at approximately $60,000. Finally, CWM LLC grew its holdings in shares of Jabil by 198.4% during the 2nd quarter. CWM LLC now owns 1,337 shares of the technology company’s stock valued at $68,000 after purchasing an additional 889 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

About Jabil

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

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