Texas Yale Capital Corp. continued to hold its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,573,631 shares of the technology company’s stock at the end of the second quarter. Jabil Circuit makes up 24.6% of Texas Yale Capital Corp.’s holdings, making the stock its largest position. Texas Yale Capital Corp. owned 5.34% of Jabil Circuit worth $279,454,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in Jabil Circuit by 57.9% in the second quarter. BNP Paribas Arbitrage SA now owns 608,906 shares of the technology company’s stock valued at $17,774,000 after buying an additional 223,188 shares in the last quarter. Legal & General Group Plc boosted its position in Jabil Circuit by 5.0% in the second quarter. Legal & General Group Plc now owns 914,334 shares of the technology company’s stock valued at $26,688,000 after buying an additional 43,628 shares in the last quarter. SG Americas Securities LLC boosted its position in Jabil Circuit by 29.3% in the second quarter. SG Americas Securities LLC now owns 50,876 shares of the technology company’s stock valued at $1,485,000 after buying an additional 11,515 shares in the last quarter. LMR Partners LLP boosted its position in Jabil Circuit by 219.9% in the second quarter. LMR Partners LLP now owns 33,622 shares of the technology company’s stock valued at $981,000 after buying an additional 23,111 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Jabil Circuit by 1.5% in the second quarter. Arizona State Retirement System now owns 76,900 shares of the technology company’s stock valued at $2,245,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.
Jabil Circuit, Inc. (NYSE:JBL) opened at 29.48 on Friday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 45.35 and a beta of 0.56. The stock’s 50 day moving average price is $30.18 and its 200 day moving average price is $28.66. Jabil Circuit, Inc. has a 12 month low of $20.32 and a 12 month high of $31.70.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, topping 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 return on equity of 12.27% and a net margin of 0.66%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. Equities research analysts anticipate that Jabil Circuit, Inc. will post $2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. Jabil Circuit’s dividend payout ratio is currently 50.00%.
Jabil Circuit announced that its board has approved a share repurchase program on Thursday, July 20th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several research firms have weighed in on JBL. UBS AG reissued a “buy” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th. BidaskClub cut Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 price target on the stock. Royal Bank Of Canada upped their price target on Jabil Circuit from $27.00 to $31.00 and gave the company a “sector perform” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus upped their price target on Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, June 15th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $28.77.
In related news, Director Frank A. Newman sold 60,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was 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 $3,768,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $30.47, for a total value 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. Insiders sold 280,495 shares of company stock worth $8,461,492 over the last quarter. 2.90% of the stock is 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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