Insider Selling: Jabil Circuit Inc. (JBL) President Sells 20,000 Shares of Stock
Jabil Circuit Inc. (NYSE:JBL) President William E. Peters sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total value of $465,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Jabil Circuit Inc. (NYSE:JBL) opened at 23.16 on Wednesday. The firm has a 50-day moving average price of $21.17 and a 200 day moving average price of $19.46. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 14.77 and a beta of 0.87. Jabil Circuit Inc. has a 12 month low of $16.78 and a 12 month high of $26.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is currently 20.38%.
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Several equities analysts have recently commented on JBL shares. Bank of America Corp. reiterated a “buy” rating on shares of Jabil Circuit in a research note on Thursday, June 16th. B. Riley reiterated a “buy” rating and set a $27.00 target price (up from $22.00) on shares of Jabil Circuit in a research note on Monday. Argus reiterated a “hold” rating on shares of Jabil Circuit in a research note on Thursday, June 16th. Royal Bank Of Canada reiterated a “hold” rating on shares of Jabil Circuit in a research note on Saturday, June 18th. Finally, Deutsche Bank AG reduced their target price on Jabil Circuit from $21.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.09.
A number of hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp acquired a new stake in Jabil Circuit during the fourth quarter worth about $13,498,000. Norges Bank acquired a new stake in Jabil Circuit during the fourth quarter worth about $46,756,000. Alpha Windward LLC raised its stake in Jabil Circuit by 11.0% in the first quarter. Alpha Windward LLC now owns 20,568 shares of the company’s stock worth $396,000 after buying an additional 2,040 shares during the period. PGGM Investments raised its stake in Jabil Circuit by 2.5% in the first quarter. PGGM Investments now owns 117,746 shares of the company’s stock worth $2,269,000 after buying an additional 2,873 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in Jabil Circuit by 51.7% in the first quarter. Glenmede Trust Co. NA now owns 1,409,345 shares of the company’s stock worth $27,157,000 after buying an additional 480,424 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
About Jabil Circuit
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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