Ameriprise Financial Inc. reduced its position in shares of Jabil Circuit Inc. (NYSE:JBL) by 46.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 547,778 shares of the company’s stock after selling 470,455 shares during the period. Ameriprise Financial Inc. owned 0.29% of Jabil Circuit worth $10,117,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in JBL. State Street Corp raised its stake in shares of Jabil Circuit by 0.4% in the first quarter. State Street Corp now owns 6,957,106 shares of the company’s stock worth $134,060,000 after buying an additional 29,792 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock worth $281,000 after buying an additional 673 shares during the last quarter. Norges Bank purchased a new stake in shares of Jabil Circuit during the fourth quarter worth $46,756,000. Aston Asset Management LLC raised its stake in shares of Jabil Circuit by 1.9% in the first quarter. Aston Asset Management LLC now owns 85,959 shares of the company’s stock worth $1,656,000 after buying an additional 1,633 shares during the last quarter. Finally, Princeton Alpha Management LP raised its stake in shares of Jabil Circuit by 81.6% in the second quarter. Princeton Alpha Management LP now owns 69,639 shares of the company’s stock valued at $1,286,000 after buying an additional 31,288 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
Jabil Circuit Inc. (NYSE:JBL) traded up 0.32% during mid-day trading on Friday, reaching $21.82. 2,154,975 shares of the company were exchanged. The stock has a market capitalization of $4.13 billion, a P/E ratio of 16.53 and a beta of 0.87. The company’s 50 day moving average price is $21.54 and its 200-day moving average price is $19.53. Jabil Circuit Inc. has a 12 month low of $16.78 and a 12 month high of $26.00.
Jabil Circuit (NYSE:JBL) last issued its earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $4.40 billion for the quarter. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. On average, equities analysts expect that Jabil Circuit Inc. will post $2.04 earnings per share for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.47%. Jabil Circuit’s dividend payout ratio (DPR) is 24.24%.
Several equities research analysts recently commented on JBL shares. Zacks Investment Research upgraded shares of Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Wednesday. Deutsche Bank AG lifted their price target on shares of Jabil Circuit from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, September 22nd. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Jabil Circuit in a research note on Tuesday, September 20th. Goldman Sachs Group Inc. lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and cut their price target for the stock from $19.00 to $17.00 in a research note on Tuesday, June 7th. Finally, Bank of America Corp. set a $24.00 price target on shares of Jabil Circuit and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.93.
In other news, 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 transaction of $101,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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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