Jabil Circuit, Inc. (JBL) Shares Sold by State of Tennessee Treasury Department
State of Tennessee Treasury Department trimmed its position in Jabil Circuit, Inc. (NYSE:JBL) by 18.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,000 shares of the technology company’s stock after selling 60,000 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.15% of Jabil Circuit worth $7,709,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Jabil Circuit by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock valued at $407,712,000 after acquiring an additional 134,408 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Jabil Circuit by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,951,206 shares of the technology company’s stock valued at $173,715,000 after acquiring an additional 309,380 shares during the last quarter. AJO LP increased its holdings in shares of Jabil Circuit by 7,383.3% in the 2nd quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock valued at $102,533,000 after acquiring an additional 3,465,668 shares during the last quarter. LSV Asset Management increased its holdings in shares of Jabil Circuit by 11.8% in the 2nd quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock valued at $89,662,000 after acquiring an additional 323,845 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Jabil Circuit by 15.6% in the 2nd quarter. Northern Trust Corp now owns 2,004,392 shares of the technology company’s stock valued at $58,508,000 after acquiring an additional 269,985 shares during the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.
A number of research analysts recently issued reports on JBL shares. J P Morgan Chase & Co restated a “buy” rating and set a $40.00 price objective on shares of Jabil Circuit in a research report on Thursday, September 28th. ValuEngine lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub lowered Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research report on Monday, October 2nd. Finally, Bank of America Corporation lowered Jabil Circuit from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Jabil Circuit presently has an average rating of “Hold” and a consensus target price of $30.50.
In other news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $31.32, for a total value of $939,600.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO William D. Muir, Jr. sold 26,420 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $28.00, for a total value of $739,760.00. Following the completion of the sale, the chief operating officer now directly owns 341,840 shares in the company, valued at approximately $9,571,520. The disclosure for this sale can be found here. Insiders have sold a total of 127,680 shares of company stock valued at $3,721,246 in the last quarter. 2.90% of the stock is currently owned by insiders.
Jabil Circuit, Inc. (NYSE JBL) opened at $28.61 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.54 and a current ratio of 0.96. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70. The stock has a market capitalization of $5,053.76, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.53.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. sell-side analysts expect that Jabil Circuit, Inc. will post 2.22 earnings per share for the current fiscal year.
Jabil Circuit announced that its board has approved a share buyback 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 reacquire up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.12%. Jabil Circuit’s dividend payout ratio (DPR) is presently 46.38%.
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Jabil Circuit 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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