PGGM Investments increased its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,091 shares of the technology company’s stock after buying an additional 3,006 shares during the period. PGGM Investments owned approximately 0.06% of Jabil Circuit worth $3,301,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in Jabil Circuit by 33.9% in the fourth quarter. Teachers Advisors LLC now owns 499,902 shares of the technology company’s stock valued at $11,833,000 after buying an additional 126,490 shares during the last quarter. Creative Planning raised its stake in Jabil Circuit by 2.0% in the first quarter. Creative Planning now owns 18,157 shares of the technology company’s stock worth $525,000 after buying an additional 351 shares during the last quarter. Bank of Montreal Can raised its stake in Jabil Circuit by 9.1% in the first quarter. Bank of Montreal Can now owns 156,018 shares of the technology company’s stock worth $4,512,000 after buying an additional 12,984 shares during the last quarter. Capstone Asset Management Co. raised its stake in Jabil Circuit by 3.1% in the first quarter. Capstone Asset Management Co. now owns 26,126 shares of the technology company’s stock worth $756,000 after buying an additional 780 shares during the last quarter. Finally, Sanders Morris Harris Inc. acquired a new stake in Jabil Circuit during the first quarter worth $1,191,000. Institutional investors own 93.03% of the company’s stock.
Shares of Jabil Circuit, Inc. (JBL) traded up 0.64% during mid-day trading on Friday, reaching $29.67. The company’s stock had a trading volume of 2,924,300 shares. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 45.65 and a beta of 0.56. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70. The company’s 50 day moving average price is $30.19 and its 200-day moving average price is $28.70.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. Analysts predict 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. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, August 11th. Jabil Circuit’s dividend payout ratio is 50.00%.
Jabil Circuit announced that its Board of Directors has authorized a stock buyback 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 purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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JBL has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $27.00 target price on shares of Jabil Circuit in a research note on Tuesday, May 2nd. Zacks Investment Research downgraded Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine raised Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Jabil Circuit in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus increased their price target on Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, June 15th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.77.
In related news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $30.47, for a total value of $914,100.00. Following the completion of the transaction, the chief executive officer now owns 1,907,619 shares of the company’s stock, valued at $58,125,150.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Loparco sold 5,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $29.90, for a total transaction of $149,500.00. Following the completion of the transaction, the chief executive officer now directly owns 244,486 shares of the company’s stock, valued at approximately $7,310,131.40. The disclosure for this sale can be found here. Insiders have sold 280,495 shares of company stock valued at $8,461,492 in the last ninety days. 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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