AQR Capital Management LLC reduced its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,101,526 shares of the technology company’s stock after selling 209,780 shares during the period. AQR Capital Management LLC owned about 2.25% of Jabil Circuit worth $118,616,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in JBL. Oppenheimer & Co. Inc. purchased a new position in shares of Jabil Circuit during the first quarter valued at about $218,000. PNC Financial Services Group Inc. raised its position in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after buying an additional 109 shares during the period. Symphony Asset Management LLC purchased a new position in shares of Jabil Circuit during the first quarter valued at about $242,000. Boothbay Fund Management LLC purchased a new position in shares of Jabil Circuit during the fourth quarter valued at about $224,000. Finally, Teza Capital Management LLC purchased a new position in shares of Jabil Circuit during the first quarter valued at about $287,000. 94.83% of the stock is owned by institutional investors.
Shares of Jabil Circuit, Inc. (NYSE:JBL) traded up 1.53% on Friday, reaching $29.29. 922,634 shares of the company were exchanged. The firm has a market capitalization of $5.25 billion, a PE ratio of 45.06 and a beta of 0.56. The company’s 50 day moving average is $29.76 and its 200 day moving average is $27.06. Jabil Circuit, Inc. has a 12-month low of $17.72 and a 12-month high of $31.70.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. Jabil Circuit’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. Analysts forecast that Jabil Circuit, Inc. will post $2.10 earnings per share for the current year.
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A number of brokerages recently weighed in on JBL. Goldman Sachs Group, Inc. (The) upped their target price on shares of Jabil Circuit from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 16th. Stifel Nicolaus upped their target price on shares of Jabil Circuit from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Thursday, March 16th. Macquarie began coverage on shares of Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating for the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $34.00 target price (up from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. Finally, Royal Bank Of Canada upped their target price on shares of Jabil Circuit from $24.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Monday, March 13th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.18.
In other Jabil Circuit news, COO William D. Muir, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $28.62, for a total value of $128,790.00. Following the completion of the transaction, the chief operating officer now owns 549,085 shares of the company’s stock, valued at approximately $15,714,812.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark T. Mondello sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $28.78, for a total transaction of $287,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,007,619 shares of the company’s stock, valued at approximately $57,779,274.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 332,852 shares of company stock valued at $9,962,697. 2.90% of the stock is owned by corporate insiders.
Jabil Circuit Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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