Tudor Investment Corp ET AL lowered its position in shares of Jabil Circuit, Inc. (NYSE:JBL) by 51.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,537 shares of the technology company’s stock after selling 34,533 shares during the period. Tudor Investment Corp ET AL’s holdings in Jabil Circuit were worth $941,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Jabil Circuit by 14.3% in the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock valued at $790,483,000 after buying an additional 3,409,496 shares during the period. BlackRock Inc. raised its position in shares of Jabil Circuit by 10,288.7% in the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock valued at $442,528,000 after buying an additional 15,154,502 shares during the period. Vanguard Group Inc. raised its position in shares of Jabil Circuit by 7.0% in the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock valued at $400,053,000 after buying an additional 901,400 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Jabil Circuit by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock valued at $163,163,000 after buying an additional 112,486 shares during the period. Finally, LSV Asset Management raised its position in shares of Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the period. 94.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Jabil Circuit, Inc. (JBL) traded down 2.02% during mid-day trading on Friday, hitting $30.57. 960,137 shares of the stock traded hands. Jabil Circuit, Inc. has a 12 month low of $19.94 and a 12 month high of $31.70. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 47.03 and a beta of 0.56. The firm has a 50 day moving average of $30.02 and a 200 day moving average of $27.96.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that Jabil Circuit, Inc. will post $2.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is presently 50.00%.
Jabil Circuit declared that its board has initiated a share repurchase program on Thursday, July 20th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Several analysts have issued reports on the stock. BidaskClub upgraded shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Macquarie assumed coverage on shares of Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating for the company. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and issued a $34.00 price target (up from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. Finally, UBS AG reaffirmed a “buy” rating and set a $35.00 target price (up previously from $30.00) on shares of Jabil Circuit in a research note on Friday, June 16th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Jabil Circuit presently has an average rating of “Buy” and a consensus target price of $27.83.
In other news, CEO Michael J. Loparco sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $29.90, for a total transaction of $149,500.00. Following the transaction, the chief executive officer now directly owns 244,486 shares of the company’s stock, valued at $7,310,131.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William D. Muir, Jr. sold 2,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $29.08, for a total value of $58,160.00. Following the transaction, the chief operating officer now directly owns 522,085 shares in the company, valued at $15,182,231.80. The disclosure for this sale can be found here. Insiders have sold 277,495 shares of company stock worth $8,349,302 over the last 90 days. 2.90% of the stock is currently owned by company 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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