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 paid 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 of this dividend is Tuesday, May 14th.

Jabil has a payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.0 %

JBL traded down $0.06 during trading on Thursday, reaching $129.59. The company had a trading volume of 662,038 shares, compared to its average volume of 1,317,825. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil has a 12 month low of $75.48 and a 12 month high of $156.94. The business’s fifty day moving average price is $138.57 and its 200 day moving average price is $131.21. The company has a market cap of $15.63 billion, a P/E ratio of 11.28, a PEG ratio of 1.40 and a beta of 1.40.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director David M. Stout sold 31,300 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the transaction, the director now directly owns 67,300 shares in the company, valued at $8,285,976. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director David M. Stout sold 31,300 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the transaction, the director now directly owns 67,300 shares in the company, valued at $8,285,976. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the transaction, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,177 shares of company stock worth $13,678,039. Insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Jabil

Several institutional investors and hedge funds have recently modified their holdings of JBL. Amundi increased its holdings in shares of Jabil by 419.8% in the fourth quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after purchasing an additional 340 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Jabil in the first quarter valued at $40,000. Natixis acquired a new position in shares of Jabil in the fourth quarter valued at $44,000. GeoWealth Management LLC bought a new stake in shares of Jabil in the first quarter valued at about $53,000. Finally, Salem Investment Counselors Inc. boosted its position in shares of Jabil by 79.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 905 shares of the technology company’s stock valued at $62,000 after acquiring an additional 400 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Company Profile

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).