Ajo LP Boosts Stake in Jabil Circuit, Inc. (JBL)

Ajo LP grew its holdings in Jabil Circuit, Inc. (NYSE:JBL) by 7,383.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,512,607 shares of the technology company’s stock after purchasing an additional 3,465,668 shares during the period. Ajo LP owned approximately 1.96% of Jabil Circuit worth $102,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in Jabil Circuit by 14.3% during the 1st quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock worth $790,483,000 after acquiring an additional 3,409,496 shares during the period. BlackRock Inc. increased its holdings in Jabil Circuit by 10,288.7% during the 1st quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after acquiring an additional 15,154,502 shares during the period. Vanguard Group Inc. increased its holdings in Jabil Circuit by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock worth $400,053,000 after acquiring an additional 901,400 shares during the period. Dimensional Fund Advisors LP increased its holdings in Jabil Circuit by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock worth $163,163,000 after acquiring an additional 112,486 shares during the period. Finally, LSV Asset Management increased its holdings in Jabil Circuit by 11.8% during the 2nd quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock worth $89,662,000 after acquiring an additional 323,845 shares during the period. 93.00% of the stock is currently owned by institutional investors.

Shares of Jabil Circuit, Inc. (JBL) opened at 31.38 on Tuesday. The stock has a 50 day moving average of $30.43 and a 200-day moving average of $29.33. The stock has a market cap of $5.62 billion, a PE ratio of 48.28 and a beta of 0.55. Jabil Circuit, Inc. has a 52 week low of $20.32 and a 52 week high of $31.70.

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, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. Equities research analysts predict that Jabil Circuit, Inc. will post $2.09 earnings per share for the current fiscal year.

Jabil Circuit announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign 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. Stockholders of record on Tuesday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s payout ratio is currently 50.00%.

A number of research firms recently weighed in on JBL. BidaskClub lowered 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 set an “overweight” rating and a $40.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Jabil Circuit in a report on Tuesday, June 13th. Stifel Nicolaus upped their target price on shares of Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, June 15th. Finally, Zacks Investment Research raised 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. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Jabil Circuit presently has a consensus rating of “Buy” and a consensus price target of $29.31.

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In related news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $29.57, for a total value of $887,100.00. Following the sale, the chief executive officer now owns 1,937,619 shares in the company, valued at $57,295,393.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank A. Newman sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $29.52, for a total transaction of $1,771,200.00. Following the completion of the sale, the director now owns 127,665 shares in the company, valued at approximately $3,768,670.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,387 shares of company stock worth $5,111,014. Company insiders own 2.90% of the company’s stock.

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.

Institutional Ownership by Quarter for Jabil Circuit (NYSE:JBL)

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