Jabil Circuit, Inc. (JBL) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 744,390 shares of the technology company’s stock after buying an additional 25,047 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.42% of Jabil Circuit worth $21,729,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Hussman Strategic Advisors Inc. acquired a new stake in Jabil Circuit during the 2nd quarter worth approximately $2,919,000. ARP Americas LLC acquired a new stake in Jabil Circuit during the 2nd quarter worth approximately $448,000. Texas Permanent School Fund raised its holdings in Jabil Circuit by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 133,091 shares of the technology company’s stock worth $3,885,000 after buying an additional 1,155 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in Jabil Circuit during the 2nd quarter worth approximately $762,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Jabil Circuit during the 2nd quarter worth approximately $891,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.
Several analysts have commented on JBL shares. Zacks Investment Research upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, June 20th. ValuEngine upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Jabil Circuit in a report on Tuesday, June 13th. Finally, Macquarie started coverage on shares of Jabil Circuit in a report on Thursday, June 22nd. They set an “outperform” rating on the stock. 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 company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.31.
Shares of Jabil Circuit, Inc. (JBL) opened at 30.76 on Tuesday. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70. The firm has a market capitalization of $5.51 billion, a P/E ratio of 47.32 and a beta of 0.55. The stock has a 50 day moving average of $30.44 and a 200-day moving average of $29.52.
Jabil Circuit announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s payout ratio is currently 50.00%.
In other news, COO William D. Muir, Jr. sold 19,866 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total transaction of $582,868.44. Following the completion of the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at approximately $17,518,473.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $31.32, for a total value of $939,600.00. Following the sale, the chief executive officer now directly owns 1,877,619 shares of the company’s stock, valued at $58,807,027.08. The disclosure for this sale can be found here. Insiders sold a total of 170,387 shares of company stock valued at $5,111,014 over the last three months. 2.90% of the stock is currently owned by insiders.
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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