KBC Group NV Has $4.52 Million Position in Jabil Circuit, Inc. (JBL)
KBC Group NV reduced its stake in Jabil Circuit, Inc. (NYSE:JBL) by 38.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,815 shares of the technology company’s stock after selling 98,056 shares during the period. KBC Group NV owned 0.09% of Jabil Circuit worth $4,519,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Jabil Circuit by 10,288.7% in the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock valued at $442,528,000 after buying an additional 15,154,502 shares during the period. FMR LLC boosted its stake in Jabil Circuit by 14.3% in the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock valued at $790,483,000 after buying an additional 3,409,496 shares during the period. Vanguard Group Inc. boosted its stake in Jabil Circuit by 7.0% in the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock valued at $400,053,000 after buying an additional 901,400 shares during the period. Earnest Partners LLC boosted its stake in Jabil Circuit by 972,142.7% in the first quarter. Earnest Partners LLC now owns 729,182 shares of the technology company’s stock valued at $21,088,000 after buying an additional 729,107 shares during the period. Finally, LSV Asset Management boosted its stake in Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.
Jabil Circuit, Inc. (JBL) opened at 30.10 on Thursday. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 46.31 and a beta of 0.56. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70. The company’s 50-day moving average price is $30.22 and its 200-day moving average price is $28.86.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the previous year, the company earned $0.17 earnings per share. Jabil Circuit’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that Jabil Circuit, Inc. will post $2.09 EPS for the current fiscal year.
Jabil Circuit announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.06%. Jabil Circuit’s dividend payout ratio (DPR) is presently 50.00%.
Several brokerages have recently issued reports on JBL. Zacks Investment Research lowered Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine raised Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Jabil Circuit in a research report on Tuesday, June 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $27.00 target price on shares of Jabil Circuit in a research report on Tuesday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.77.
In related news, CFO Forbes I. J. Alexander sold 4,341 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total value of $130,230.00. Following the completion of the sale, the chief financial officer now directly owns 586,184 shares of the company’s stock, valued at $17,585,520. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas A. Sansone sold 50,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $30.50, for a total transaction of $1,525,000.00. Following the completion of the sale, the director now directly owns 176,688 shares of the company’s stock, valued at $5,388,984. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,495 shares of company stock valued at $8,311,992. 2.90% of the stock is owned by corporate 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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