Jabil Inc. (NYSE:JBL) Short Interest Up 9.5% in October

Jabil Inc. (NYSE:JBL - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,800,000 shares, a growth of 9.5% from the September 30th total of 3,470,000 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on JBL shares. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price target on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. Stifel Nicolaus increased their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Finally, Barclays lifted their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Jabil currently has a consensus rating of "Moderate Buy" and an average price target of $143.50.

Insider Buying and Selling at Jabil

In other news, EVP Matthew Crowley sold 1,380 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the transaction, the executive vice president now directly owns 18,568 shares of the company's stock, valued at $2,336,411.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Matthew Crowley sold 1,380 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now directly owns 18,568 shares of the company's stock, valued at approximately $2,336,411.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares of the company's stock, valued at approximately $12,908,981.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,651 shares of company stock valued at $3,423,005. Corporate insiders own 2.62% of the company's stock.

Hedge Funds Weigh In On Jabil

A number of large investors have recently bought and sold shares of the company. Cetera Investment Advisers boosted its stake in shares of Jabil by 141.7% in the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company's stock valued at $2,324,000 after buying an additional 10,173 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Jabil by 30.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company's stock worth $44,387,000 after purchasing an additional 76,573 shares in the last quarter. Tobam acquired a new position in shares of Jabil during the 1st quarter worth $1,692,000. BNP Paribas Financial Markets boosted its holdings in Jabil by 222.8% during the first quarter. BNP Paribas Financial Markets now owns 132,346 shares of the technology company's stock worth $17,728,000 after buying an additional 91,347 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in shares of Jabil by 239.2% in the 1st quarter. CreativeOne Wealth LLC now owns 10,116 shares of the technology company's stock worth $1,355,000 after acquiring an additional 7,134 shares during the period. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Stock Performance

JBL traded down $0.86 on Wednesday, reaching $123.98. The company had a trading volume of 1,192,874 shares, compared to its average volume of 1,461,585. The stock has a 50-day moving average price of $114.98 and a 200-day moving average price of $114.64. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Jabil has a 1 year low of $95.85 and a 1 year high of $156.94. The stock has a market capitalization of $14.06 billion, a PE ratio of 11.33, a P/E/G ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period last year, the firm posted $2.34 earnings per share. The company's revenue for the quarter was down 17.7% compared to the same quarter last year. As a group, research analysts forecast that Jabil will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, November 15th. Jabil's dividend payout ratio is presently 2.90%.

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).