Jabil Inc (NYSE:JBL) Sees Large Decrease in Short Interest

Jabil Inc (NYSE:JBL) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,829,400 shares, a decrease of 6.7% from the June 30th total of 4,102,500 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 3.3 days.

Shares of NYSE JBL traded up $0.63 during mid-day trading on Friday, reaching $27.46. 793,886 shares of the company were exchanged, compared to its average volume of 1,266,675. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 1.33. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.11 and a beta of 0.96. Jabil has a 1 year low of $21.49 and a 1 year high of $32.24. The firm has a 50-day moving average of $30.17 and a 200 day moving average of $28.70.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, August 14th. Jabil’s dividend payout ratio (DPR) is currently 14.75%.

In other Jabil news, CEO Alessandro Parimbelli sold 3,500 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $30.78, for a total value of $107,730.00. Following the completion of the sale, the chief executive officer now directly owns 317,292 shares in the company, valued at approximately $9,766,247.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bruce Allan Johnson sold 6,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $31.50, for a total value of $189,000.00. Following the completion of the sale, the senior vice president now owns 147,700 shares of the company’s stock, valued at $4,652,550. The disclosure for this sale can be found here. Insiders sold a total of 36,500 shares of company stock valued at $1,158,595 over the last quarter. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Greenwich Wealth Management LLC increased its position in Jabil by 1.3% during the 2nd quarter. Greenwich Wealth Management LLC now owns 28,742 shares of the technology company’s stock valued at $908,000 after buying an additional 356 shares in the last quarter. GSA Capital Partners LLP increased its position in Jabil by 0.6% during the 2nd quarter. GSA Capital Partners LLP now owns 64,258 shares of the technology company’s stock valued at $2,031,000 after buying an additional 388 shares in the last quarter. CIBC Asset Management Inc increased its position in Jabil by 4.1% during the 1st quarter. CIBC Asset Management Inc now owns 10,141 shares of the technology company’s stock valued at $270,000 after buying an additional 398 shares in the last quarter. Advisory Services Network LLC increased its position in Jabil by 57.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,238 shares of the technology company’s stock valued at $39,000 after buying an additional 450 shares in the last quarter. Finally, Stephens Inc. AR increased its position in Jabil by 7.6% during the 2nd quarter. Stephens Inc. AR now owns 8,187 shares of the technology company’s stock valued at $259,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Separately, Zacks Investment Research cut Jabil from a “hold” rating to a “sell” rating and set a $29.00 target price for the company. in a report on Wednesday, June 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Jabil currently has a consensus rating of “Hold” and an average target price of $29.33.

About Jabil

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).

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