Nicholas Investment Partners LP Has $4.21 Million Position in Jabil Circuit, Inc. (JBL)
Nicholas Investment Partners LP lifted its holdings in Jabil Circuit, Inc. (NYSE:JBL) by 47.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,173 shares of the technology company’s stock after buying an additional 46,210 shares during the quarter. Nicholas Investment Partners LP owned 0.08% of Jabil Circuit worth $4,208,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. FMR LLC boosted its stake in shares of 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 in the last quarter. BlackRock Inc. boosted its stake in shares of 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Jabil Circuit by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock valued at $163,163,000 after buying an additional 112,486 shares in the last quarter. Finally, AJO LP boosted its stake in shares of Jabil Circuit by 7,383.3% in the second quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock valued at $102,533,000 after buying an additional 3,465,668 shares in the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.
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In other news, Director Frank A. Newman sold 60,000 shares of the firm’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 directly owns 127,665 shares of the company’s stock, valued at approximately $3,768,670.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $582,868.44. Following the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at $17,518,473.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,387 shares of company stock valued at $5,111,014. Corporate insiders own 2.90% of the company’s stock.
Jabil Circuit, Inc. (NYSE JBL) traded up 1.53% during trading on Tuesday, hitting $31.23. The stock had a trading volume of 247,600 shares. The stock has a market cap of $5.60 billion, a PE ratio of 48.05 and a beta of 0.55. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70. The firm’s 50-day moving average price is $30.44 and its 200-day moving average price is $29.52.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, August 11th. Jabil Circuit’s dividend payout ratio is presently 50.00%.
Jabil Circuit announced that its board has authorized a stock repurchase program on Thursday, July 20th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
JBL has been the topic of a number of analyst reports. ValuEngine upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a research report on Friday, September 1st. BidaskClub downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Macquarie assumed coverage on Jabil Circuit in a research report on Thursday, June 22nd. They set an “outperform” rating on the stock. Finally, Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Tuesday, June 20th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $29.31.
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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