State of Wisconsin Investment Board cut its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,483 shares of the technology company’s stock after selling 1,740 shares during the quarter. State of Wisconsin Investment Board’s holdings in Jabil Circuit were worth $1,036,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of Jabil Circuit by 14.3% during the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock worth $790,483,000 after buying an additional 3,409,496 shares in the last quarter. BlackRock Inc. grew its position in shares of Jabil Circuit by 10,288.7% during the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after buying an additional 15,154,502 shares in the last quarter. Vanguard Group Inc. lifted its stake in Jabil Circuit by 7.0% during the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock worth $400,053,000 after purchasing an additional 901,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Jabil Circuit by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock worth $163,163,000 after purchasing an additional 112,486 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Jabil Circuit by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,499,748 shares of the technology company’s stock worth $72,292,000 after purchasing an additional 87,185 shares during the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.
Shares of Jabil Circuit, Inc. (JBL) opened at 30.72 on Friday. The stock has a market cap of $5.51 billion, a PE ratio of 47.26 and a beta of 0.55. The stock’s 50 day moving average price is $30.45 and its 200 day moving average price is $29.40. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. On average, equities research analysts anticipate that Jabil Circuit, Inc. will post $2.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 50.00%.
Jabil Circuit announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Jabil Circuit news, CEO Mark T. Mondello sold 30,000 shares of Jabil Circuit stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.57, for a total transaction of $887,100.00. Following the sale, the chief executive officer now owns 1,937,619 shares of the company’s stock, valued at approximately $57,295,393.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank A. Newman sold 60,000 shares of Jabil Circuit stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $29.52, for a total value of $1,771,200.00. Following the sale, the director now directly owns 127,665 shares in the company, valued at approximately $3,768,670.80. The disclosure for this sale can be found here. In the last three months, insiders sold 170,387 shares of company stock worth $5,111,014. Company insiders own 2.90% of the company’s stock.
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Several research firms recently weighed in on JBL. ValuEngine upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Needham & Company LLC restated a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a research note on Friday, September 1st. BidaskClub cut Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research note on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, Macquarie assumed coverage on Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating for the company. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $29.31.
About Jabil Circuit
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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