Swiss National Bank Has $8,030,000 Position in Jabil Circuit, Inc. (JBL)
Swiss National Bank held its position in shares of Jabil Circuit, Inc. (NYSE:JBL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 275,100 shares of the technology company’s stock at the end of the 2nd quarter. Swiss National Bank owned 0.15% of Jabil Circuit worth $8,030,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in JBL. Acadian Asset Management LLC increased its stake in Jabil Circuit by 36.1% during the first quarter. Acadian Asset Management LLC now owns 11,379 shares of the technology company’s stock valued at $329,000 after purchasing an additional 3,016 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Jabil Circuit by 5.6% during the first quarter. Russell Investments Group Ltd. now owns 230,603 shares of the technology company’s stock valued at $6,671,000 after purchasing an additional 12,235 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Jabil Circuit by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,499,748 shares of the technology company’s stock valued at $72,292,000 after purchasing an additional 87,185 shares during the last quarter. Karp Capital Management Corp bought a new stake in Jabil Circuit during the first quarter valued at $2,283,000. Finally, Sei Investments Co. increased its stake in Jabil Circuit by 104.5% during the first quarter. Sei Investments Co. now owns 159,443 shares of the technology company’s stock valued at $4,612,000 after purchasing an additional 81,472 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.
Several analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a research note on Friday, September 1st. BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. ValuEngine upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada boosted their target price on shares of Jabil Circuit from $27.00 to $31.00 and gave the company a “sector perform” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus boosted their target price on shares of Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, June 15th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $29.31.
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In other news, Director Frank A. Newman sold 60,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $29.52, for a total value of $1,771,200.00. Following the completion of the sale, the director now directly owns 127,665 shares in the company, valued at $3,768,670.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO William D. Muir, Jr. sold 19,866 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total value of $582,868.44. Following the completion of the sale, the chief operating officer now owns 597,085 shares of the company’s stock, valued at $17,518,473.90. The disclosure for this sale can be found here. Insiders have sold 170,387 shares of company stock valued at $5,111,014 over the last quarter. Corporate insiders own 2.90% of the company’s stock.
Jabil Circuit, Inc. (JBL) opened at 30.72 on Friday. The stock’s 50 day moving average is $30.45 and its 200 day moving average is $29.40. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70. The firm has a market cap of $5.51 billion, a P/E ratio of 47.26 and a beta of 0.55.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Jabil Circuit, Inc. will post $2.09 earnings per share for the current year.
Jabil Circuit announced that its Board of Directors has authorized a share buyback plan on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 11th. This represents a $0.32 annualized dividend and a yield of 1.04%. Jabil Circuit’s dividend payout ratio is currently 50.00%.
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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