Jabil Circuit Inc. (JBL) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. reduced its stake in shares of Jabil Circuit Inc. (NYSE:JBL) by 16.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,762 shares of the company’s stock after selling 7,895 shares during the period. First Mercantile Trust Co.’s holdings in Jabil Circuit were worth $753,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of JBL. Quantitative Systematic Strategies LLC acquired a new position in Jabil Circuit during the second quarter worth approximately $181,000. Calvert Investment Management Inc. acquired a new position in Jabil Circuit during the second quarter worth approximately $201,000. LS Investment Advisors LLC raised its position in Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock worth $213,000 after buying an additional 4,802 shares in the last quarter. World Asset Management Inc raised its position in Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock worth $221,000 after buying an additional 120 shares in the last quarter. Finally, LPL Financial LLC raised its position in Jabil Circuit by 22.8% in the first quarter. LPL Financial LLC now owns 11,912 shares of the company’s stock worth $222,000 after buying an additional 2,209 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.
Shares of Jabil Circuit Inc. (NYSE:JBL) opened at 23.16 on Wednesday. The company’s 50-day moving average is $21.17 and its 200 day moving average is $19.46. Jabil Circuit Inc. has a 52-week low of $16.78 and a 52-week high of $26.00. The firm has a market capitalization of $4.43 billion, a P/E ratio of 14.77 and a beta of 0.87.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is presently 20.38%.
A number of equities analysts recently commented on JBL shares. Raymond James Financial Inc. raised shares of Jabil Circuit from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $21.00 to $26.00 in a research report on Friday, July 15th. TheStreet raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a report on Thursday, September 8th. Goldman Sachs Group Inc. lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and decreased their target price for the company from $19.00 to $17.00 in a report on Tuesday, June 7th. Zacks Investment Research raised shares of Jabil Circuit from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Jabil Circuit in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Jabil Circuit currently has an average rating of “Hold” and a consensus price target of $32.09.
In other news, President William E. Peters sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Loparco sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total value of $101,150.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
About Jabil Circuit
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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