Insider Selling: Jabil Circuit, Inc. (JBL) Director Sells 25,000 Shares of Stock
Jabil Circuit, Inc. (NYSE:JBL) Director Thomas A. Sansone sold 25,000 shares of the company’s stock in a transaction dated 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 owns 176,688 shares in the company, valued at approximately $5,256,468. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Jabil Circuit, Inc. (NYSE:JBL) traded down 1.74% during trading on Wednesday, reaching $29.33. The company’s stock had a trading volume of 4,082,308 shares. Jabil Circuit, Inc. has a 52 week low of $16.95 and a 52 week high of $29.86. The company has a 50 day moving average price of $28.96 and a 200 day moving average price of $25.17. The firm has a market capitalization of $5.35 billion, a P/E ratio of 36.57 and a beta of 0.86.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings data on Wednesday, March 15th. The technology company reported $0.48 earnings per share for the quarter, beating 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 company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts expect that Jabil Circuit, Inc. will post $2.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be issued 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 presently 28.83%.
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JBL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Jabil Circuit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Raymond James Financial, Inc. downgraded Jabil Circuit from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, March 1st. Stifel Nicolaus upped their target price on Jabil Circuit from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, March 24th. Goldman Sachs Group Inc upped their target price on Jabil Circuit from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 16th. Finally, Needham & Company LLC upgraded Jabil Circuit from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, March 16th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Jabil Circuit currently has a consensus rating of “Hold” and an average price target of $25.25.
Large investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of Jabil Circuit by 1.3% in the third quarter. Great West Life Assurance Co. Can now owns 196,209 shares of the technology company’s stock worth $4,276,000 after buying an additional 2,495 shares in the last quarter. Capital Fund Management S.A. raised its stake in shares of Jabil Circuit by 6.3% in the third quarter. Capital Fund Management S.A. now owns 169,007 shares of the technology company’s stock valued at $3,688,000 after buying an additional 9,997 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of Jabil Circuit during the third quarter valued at approximately $10,175,000. Quantbot Technologies LP purchased a new stake in shares of Jabil Circuit during the third quarter valued at approximately $2,070,000. Finally, BlackRock Advisors LLC raised its stake in shares of Jabil Circuit by 1.8% in the third quarter. BlackRock Advisors LLC now owns 105,058 shares of the technology company’s stock valued at $2,292,000 after buying an additional 1,898 shares during the period. 94.69% of the stock is currently owned by institutional investors.
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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