American International Group Inc. increased its stake in Jabil Circuit, Inc. (NYSE:JBL) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,453 shares of the technology company’s stock after buying an additional 6,245 shares during the period. American International Group Inc.’s holdings in Jabil Circuit were worth $10,540,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its position in Jabil Circuit by 10.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 25,851 shares of the technology company’s stock valued at $612,000 after buying an additional 2,442 shares during the period. Frontier Capital Management Co. LLC raised its position in Jabil Circuit by 4.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,346,246 shares of the technology company’s stock valued at $79,206,000 after buying an additional 138,536 shares during the period. Russell Investments Group Ltd. bought a new position in Jabil Circuit during the fourth quarter valued at $5,195,000. ETRADE Capital Management LLC raised its position in Jabil Circuit by 46.7% in the third quarter. ETRADE Capital Management LLC now owns 15,026 shares of the technology company’s stock valued at $328,000 after buying an additional 4,782 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in Jabil Circuit by 1.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 774,086 shares of the technology company’s stock valued at $16,889,000 after buying an additional 10,086 shares during the period. 94.69% of the stock is currently owned by hedge funds and other institutional investors.
Jabil Circuit, Inc. (NYSE:JBL) traded up 1.34% during mid-day trading on Wednesday, reaching $29.40. The company had a trading volume of 1,121,705 shares. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 36.66 and a beta of 0.86. Jabil Circuit, Inc. has a 12-month low of $17.23 and a 12-month high of $29.86. The stock has a 50-day moving average of $28.97 and a 200 day moving average of $25.49.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, March 15th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Jabil Circuit had a return on equity of 11.81% and a net margin of 1.15%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Jabil Circuit, Inc. will post $2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, May 11th. Jabil Circuit’s dividend payout ratio is currently 28.83%.
JBL has been the topic of a number of recent analyst reports. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, March 21st. Stifel Nicolaus boosted their target price on Jabil Circuit from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, March 24th. Royal Bank of Canada reissued a “hold” rating and set a $27.00 target price on shares of Jabil Circuit in a report on Tuesday, May 2nd. Needham & Company LLC raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, March 16th. Finally, Raymond James Financial, Inc. lowered Jabil Circuit from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, March 1st. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Jabil Circuit has an average rating of “Hold” and a consensus target price of $25.25.
In other Jabil Circuit news, Director Thomas A. Sansone sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $29.75, for a total value of $743,750.00. Following the completion of the sale, the director now directly owns 176,688 shares of the company’s stock, valued at $5,256,468. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO William D. Muir, Jr. sold 2,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $29.08, for a total value of $58,160.00. Following the completion of the sale, the chief operating officer now directly owns 522,085 shares of the company’s stock, valued at $15,182,231.80. The disclosure for this sale can be found here. Insiders sold 370,789 shares of company stock valued at $10,399,148 over the last three months. Company insiders own 2.90% of the company’s stock.
About Jabil Circuit
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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