Capstone Asset Management Co. increased its position in shares of Jabil Circuit, Inc. (NYSE:JBL) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,326 shares of the technology company’s stock after buying an additional 1,200 shares during the period. Capstone Asset Management Co.’s holdings in Jabil Circuit were worth $798,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in JBL. Oregon Public Employees Retirement Fund increased its stake in shares of Jabil Circuit by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 66,712 shares of the technology company’s stock worth $1,929,000 after buying an additional 900 shares during the period. Pegasus Partners Ltd. increased its stake in shares of Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock worth $946,000 after buying an additional 232 shares during the period. Greenwich Wealth Management LLC increased its stake in shares of Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock worth $704,000 after buying an additional 230 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Jabil Circuit by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 230,603 shares of the technology company’s stock worth $6,671,000 after buying an additional 12,235 shares during the period. Finally, David R. Rahn & Associates Inc. bought a new stake in shares of Jabil Circuit during the first quarter worth approximately $488,000. Institutional investors own 93.03% of the company’s stock.
Shares of Jabil Circuit, Inc. (NYSE JBL) traded up 0.64% on Friday, reaching $29.67. 2,924,300 shares of the company’s stock were exchanged. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 45.65 and a beta of 0.56. Jabil Circuit, Inc. has a 12 month low of $20.32 and a 12 month high of $31.70. The firm’s 50-day moving average price is $30.19 and its 200 day moving average price is $28.70.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts predict that Jabil Circuit, Inc. will post $2.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.08%. Jabil Circuit’s payout ratio is presently 50.00%.
Jabil Circuit declared that its board has initiated a stock buyback plan on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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A number of brokerages have recently commented on JBL. BidaskClub downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Jabil Circuit in a report on Tuesday, June 13th. ValuEngine upgraded Jabil Circuit from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada increased their target price on Jabil Circuit from $27.00 to $31.00 and gave the company a “sector perform” rating in a report on Thursday, June 15th. Finally, Stifel Nicolaus increased their target price on Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, June 15th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.77.
In other news, COO William D. Muir, Jr. sold 19,866 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total transaction of $582,868.44. Following the completion of the sale, the chief operating officer now owns 597,085 shares of the company’s stock, valued at approximately $17,518,473.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas A. Sansone sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $30.50, for a total transaction of $1,525,000.00. Following the sale, the director now directly owns 176,688 shares of the company’s stock, valued at approximately $5,388,984. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,495 shares of company stock worth $8,461,492. Company insiders own 2.90% of the company’s stock.
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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