Winslow Evans & Crocker Inc. cut its stake in Jabil Circuit, Inc. (NYSE:JBL) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,213 shares of the technology company’s stock after selling 1 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Jabil Circuit were worth $152,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Greenwich Wealth Management LLC boosted 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. boosted 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. David R. Rahn & Associates Inc. purchased a new position in shares of Jabil Circuit during the first quarter worth approximately $488,000. First Quadrant L P CA raised its position in shares of Jabil Circuit by 12.2% in the first quarter. First Quadrant L P CA now owns 1,027,567 shares of the technology company’s stock worth $29,717,000 after buying an additional 111,609 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Jabil Circuit by 36.1% in the first quarter. Acadian Asset Management LLC now owns 11,379 shares of the technology company’s stock worth $329,000 after buying an additional 3,016 shares in the last quarter. 94.83% of the stock is owned by institutional investors.
Jabil Circuit, Inc. (NYSE:JBL) traded down 0.34% on Friday, reaching $29.22. 1,233,042 shares of the company were exchanged. The stock has a 50 day moving average of $30.19 and a 200 day moving average of $28.49. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70. The firm has a market capitalization of $5.24 billion, a PE ratio of 44.95 and a beta of 0.56.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share 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 firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Jabil Circuit, Inc. will post $2.09 EPS for the current year.
Jabil Circuit declared that its board has authorized a share repurchase plan on Thursday, July 20th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 annualized dividend and a yield of 1.10%. Jabil Circuit’s payout ratio is 50.00%.
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JBL has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. ValuEngine upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Jabil Circuit in a research report on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating and issued a $27.00 target price on shares of Jabil Circuit in a research report on Tuesday, May 2nd. Finally, BidaskClub cut shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.77.
In other news, CFO Forbes I. J. Alexander sold 4,341 shares of the stock in a transaction on Tuesday, May 30th. The stock was 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 of the company’s stock, valued at $17,585,520. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Loparco sold 5,000 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $29.90, for a total value of $149,500.00. Following the transaction, the chief executive officer now directly owns 244,486 shares in the company, valued at $7,310,131.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,495 shares of company stock worth $9,205,242. 2.90% of the stock is 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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