State Board of Administration of Florida Retirement System Has $7.98 Million Holdings in Jabil Circuit, Inc. (JBL)
State Board of Administration of Florida Retirement System reduced its position in shares of Jabil Circuit, Inc. (NYSE:JBL) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,581 shares of the technology company’s stock after selling 4,150 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.16% of Jabil Circuit worth $7,982,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IHT Wealth Management LLC raised its position in Jabil Circuit by 142.6% during the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock worth $159,000 after acquiring an additional 211 shares in the last quarter. Advisor Group Inc. raised its position in Jabil Circuit by 68.2% during the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock worth $168,000 after acquiring an additional 2,337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Jabil Circuit by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after acquiring an additional 547 shares in the last quarter. Stevens Capital Management LP bought a new stake in Jabil Circuit during the second quarter worth $206,000. Finally, Bridgewater Associates LP bought a new stake in Jabil Circuit during the second quarter worth $219,000. 93.81% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on JBL. Needham & Company LLC reaffirmed a “buy” rating and set a $37.00 price target on shares of Jabil Circuit in a research report on Friday, September 1st. BidaskClub downgraded shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. J P Morgan Chase & Co began coverage on shares of Jabil Circuit in a report on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price objective on the stock. ValuEngine upgraded shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Jabil Circuit from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $28.00 to $26.00 in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.50.
Jabil Circuit, Inc. (NYSE JBL) opened at $28.61 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.54. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70. The company has a market cap of $5,053.76, a PE ratio of 15.38, a P/E/G ratio of 1.07 and a beta of 0.53.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the company posted $0.28 earnings per share. Jabil Circuit’s revenue was up 13.4% compared to the same quarter last year. research analysts anticipate that Jabil Circuit, Inc. will post 2.22 EPS for the current fiscal year.
Jabil Circuit announced that its board has authorized a stock buyback program on Thursday, July 20th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. Jabil Circuit’s dividend payout ratio (DPR) is presently 46.38%.
In related news, President William E. Peters sold 3,580 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total value of $102,889.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $28.33, for a total transaction of $849,900.00. Following the completion of the transaction, the chief executive officer now owns 1,725,499 shares in the company, valued at $48,883,386.67. The disclosure for this sale can be found here. Insiders sold 127,680 shares of company stock worth $3,721,246 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
Jabil Circuit Company 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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