Ameriprise Financial Inc. Has $18.61 Million Position in Jabil Circuit, Inc. (JBL)
Ameriprise Financial Inc. lessened its stake in Jabil Circuit, Inc. (NYSE:JBL) by 3.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 637,390 shares of the technology company’s stock after selling 22,428 shares during the quarter. Ameriprise Financial Inc. owned about 0.36% of Jabil Circuit worth $18,605,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oxford Asset Management acquired a new stake in Jabil Circuit in the first quarter worth $1,227,000. Envestnet Asset Management Inc. boosted its position in shares of Jabil Circuit by 4.0% during the first quarter. Envestnet Asset Management Inc. now owns 28,895 shares of the technology company’s stock worth $834,000 after purchasing an additional 1,108 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Jabil Circuit by 3.5% during the first quarter. Stifel Financial Corp now owns 19,964 shares of the technology company’s stock worth $577,000 after purchasing an additional 684 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Jabil Circuit during the first quarter worth $14,008,000. Finally, Schroder Investment Management Group boosted its position in shares of Jabil Circuit by 29.0% during the first quarter. Schroder Investment Management Group now owns 60,061 shares of the technology company’s stock worth $1,745,000 after purchasing an additional 13,511 shares in the last quarter. Institutional investors and hedge funds own 93.05% of the company’s stock.
In other news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $31.32, for a total transaction of $939,600.00. Following the transaction, the chief executive officer now owns 1,877,619 shares of the company’s stock, valued at approximately $58,807,027.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 60,521 shares of company stock worth $1,869,846 in the last quarter. Company insiders own 2.90% of the company’s stock.
JBL has been the topic of several research analyst reports. ValuEngine raised Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a report on Friday, September 1st. BidaskClub cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Macquarie initiated coverage on Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Jabil Circuit has an average rating of “Hold” and an average price target of $30.50.
Shares of Jabil Circuit, Inc. (NYSE JBL) opened at 29.29 on Tuesday. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70. The company has a market cap of $5.25 billion, a PE ratio of 45.06 and a beta of 0.59. The firm has a 50-day moving average price of $30.14 and a 200 day moving average price of $29.73.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Jabil Circuit, Inc. will post $2.59 earnings per share for the current year.
Jabil Circuit announced that its Board of Directors has approved a share buyback plan on Thursday, July 20th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the technology company to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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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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