Parkwood LLC cut its position in Jabil Circuit, Inc. (NYSE:JBL) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,431 shares of the technology company’s stock after selling 2,543 shares during the period. Parkwood LLC’s holdings in Jabil Circuit were worth $421,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Jabil Circuit during the first quarter worth $218,000. PNC Financial Services Group Inc. increased 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 worth $236,000 after buying an additional 109 shares during the last quarter. Symphony Asset Management LLC acquired a new position in shares of Jabil Circuit during the first quarter worth $242,000. First Citizens Bank & Trust Co. increased its position in shares of Jabil Circuit by 30.6% in the second quarter. First Citizens Bank & Trust Co. now owns 9,133 shares of the technology company’s stock worth $267,000 after buying an additional 2,141 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in shares of Jabil Circuit during the first quarter worth $287,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.
Shares of Jabil Circuit, Inc. (JBL) opened at 29.67 on Friday. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70. The firm’s 50-day moving average is $30.19 and its 200-day moving average is $28.70. The company has a market cap of $5.32 billion, a PE ratio of 45.65 and a beta of 0.56.
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, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities analysts anticipate that Jabil Circuit, Inc. will post $2.09 EPS for the current year.
Jabil Circuit declared that its Board of Directors has approved a share repurchase program on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.08%. Jabil Circuit’s dividend payout ratio is currently 50.00%.
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A number of equities analysts have recently weighed in on the company. UBS AG restated a “buy” rating and issued a $35.00 target price (up previously from $30.00) on shares of Jabil Circuit in a research note on Friday, June 16th. BidaskClub cut shares of Jabil Circuit from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. J P Morgan Chase & Co began coverage on shares of Jabil Circuit in a report on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Jabil Circuit from $27.00 to $31.00 and gave the stock a “sector perform” rating in a report on Thursday, June 15th. Finally, Stifel Nicolaus lifted their price target on shares of Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, June 15th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Jabil Circuit presently has a consensus rating of “Hold” and a consensus target price of $28.77.
In other Jabil Circuit news, CFO Forbes I. J. Alexander sold 4,341 shares of Jabil Circuit stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total value of $130,230.00. Following the sale, the chief financial officer now directly owns 586,184 shares in the company, valued at approximately $17,585,520. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of Jabil Circuit stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $30.47, for a total transaction of $914,100.00. Following the completion of the sale, the chief executive officer now owns 1,907,619 shares in the company, valued at $58,125,150.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,495 shares of company stock worth $8,461,492. 2.90% of the stock is currently owned by insiders.
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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