Jabil Inc. to Issue Quarterly Dividend of $0.08 (NYSE:JBL)

Jabil Inc. (NYSE:JBL) declared a quarterly dividend on Wednesday, April 17th, NASDAQ reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.08 per share by the technology company on Tuesday, June 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Tuesday, May 14th.

Jabil has a dividend payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jabil to earn $10.03 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 3.2%.

Jabil Stock Performance

Jabil stock traded down $0.06 during midday trading on Thursday, reaching $129.59. 662,038 shares of the stock traded hands, compared to its average volume of 1,317,825. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average price of $138.57 and a two-hundred day moving average price of $131.21. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.40 and a beta of 1.40. Jabil has a fifty-two week low of $75.48 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last released its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.91 billion. On average, equities research analysts forecast that Jabil will post 7.83 earnings per share for the current year.

Insider Transactions at Jabil

In other news, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the transaction, the executive vice president now directly owns 65,434 shares in the company, valued at $8,874,159.08. The disclosure for this sale can be found here. Insiders have sold a total of 107,177 shares of company stock valued at $13,678,039 over the last ninety days. Corporate insiders own 2.62% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Amundi increased its stake in Jabil by 419.8% in the 4th quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after buying an additional 340 shares during the period. GeoWealth Management LLC acquired a new position in Jabil in the 1st quarter valued at approximately $53,000. Natixis acquired a new position in Jabil in the 4th quarter valued at approximately $44,000. Zions Bancorporation N.A. acquired a new position in Jabil in the 1st quarter valued at approximately $40,000. Finally, Fred Alger Management LLC acquired a new position in Jabil in the 1st quarter valued at approximately $75,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on JBL shares. Barclays dropped their price target on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. The Goldman Sachs Group boosted their target price on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, March 4th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

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).