Insider Selling: Jabil Circuit, Inc. (JBL) CEO Sells 2,500 Shares of Stock
Jabil Circuit, Inc. (NYSE:JBL) CEO Erich Hoch sold 2,500 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $28.11, for a total value of $70,275.00. Following the completion of the transaction, the chief executive officer now directly owns 225,303 shares in the company, valued at $6,333,267.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Erich Hoch also recently made the following trade(s):
- On Tuesday, October 17th, Erich Hoch sold 2,680 shares of Jabil Circuit stock. The shares were sold at an average price of $28.73, for a total value of $76,996.40.
- On Monday, October 16th, Erich Hoch sold 2,500 shares of Jabil Circuit stock. The shares were sold at an average price of $28.49, for a total value of $71,225.00.
- On Tuesday, July 25th, Erich Hoch sold 521 shares of Jabil Circuit stock. The shares were sold at an average price of $30.99, for a total value of $16,145.79.
Shares of Jabil Circuit, Inc. (NYSE:JBL) traded up 0.21% during trading on Monday, reaching $28.02. The company’s stock had a trading volume of 2,042,895 shares. The company has a 50 day moving average price of $29.63 and a 200 day moving average price of $29.72. Jabil Circuit, Inc. has a 52 week low of $20.32 and a 52 week high of $31.70. The firm has a market capitalization of $5.01 billion, a P/E ratio of 40.61 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. On average, equities research analysts expect that Jabil Circuit, Inc. will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, November 14th. Jabil Circuit’s dividend payout ratio (DPR) is 46.38%.
Jabil Circuit announced that its Board of Directors has approved a stock buyback program on Thursday, July 20th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of research analysts have recently weighed in on JBL shares. J P Morgan Chase & Co reissued a “buy” rating and issued a $40.00 price objective on shares of Jabil Circuit in a report on Thursday, September 28th. ValuEngine lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub lowered Jabil Circuit from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a report on Monday, October 2nd. Finally, Bank of America Corporation downgraded Jabil Circuit from a “buy” rating to a “neutral” rating in a research note on Monday, September 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Jabil Circuit presently has a consensus rating of “Hold” and an average target price of $30.50.
Several large investors have recently made changes to their positions in the company. Fox Run Management L.L.C. boosted its stake in shares of Jabil Circuit by 228.4% during the 3rd quarter. Fox Run Management L.L.C. now owns 33,500 shares of the technology company’s stock worth $956,000 after acquiring an additional 23,300 shares in the last quarter. APG Asset Management N.V. purchased a new stake in shares of Jabil Circuit during the 3rd quarter worth approximately $3,634,000. Meeder Asset Management Inc. boosted its stake in shares of Jabil Circuit by 8.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 54,824 shares of the technology company’s stock worth $1,564,000 after acquiring an additional 4,090 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Jabil Circuit by 41.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 142,327 shares of the technology company’s stock worth $4,063,000 after acquiring an additional 41,878 shares in the last quarter. Finally, PGGM Investments boosted its stake in shares of Jabil Circuit by 2.3% during the 3rd quarter. PGGM Investments now owns 115,712 shares of the technology company’s stock worth $3,304,000 after acquiring an additional 2,621 shares in the last quarter. 92.86% of the stock is currently owned by institutional investors and hedge funds.
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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