Jabil Circuit, Inc. (JBL) CEO Mark T. Mondello Sells 30,000 Shares
Jabil Circuit, Inc. (NYSE:JBL) CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $28.33, for a total value of $849,900.00. Following the sale, the chief executive officer now owns 1,725,499 shares of the company’s stock, valued at $48,883,386.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the company posted $0.28 EPS. Jabil Circuit’s revenue for the quarter was up 13.4% on a year-over-year basis.
Jabil Circuit announced that its board 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 buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, November 14th. Jabil Circuit’s dividend payout ratio (DPR) is presently 46.38%.
Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $37.00 price objective on shares of Jabil Circuit in a research report on Wednesday, September 27th. ValuEngine downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and set a $30.00 price objective on shares of Jabil Circuit in a research report on Thursday, September 28th. Finally, BidaskClub downgraded Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Jabil Circuit currently has a consensus rating of “Hold” and an average target price of $30.50.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new stake in shares of Jabil Circuit in the 3rd quarter valued at about $273,000. Stevens Capital Management LP raised its position in Jabil Circuit by 162.8% during the 3rd quarter. Stevens Capital Management LP now owns 18,563 shares of the technology company’s stock valued at $530,000 after purchasing an additional 11,499 shares during the last quarter. Chicago Equity Partners LLC raised its position in Jabil Circuit by 26.9% during the 3rd quarter. Chicago Equity Partners LLC now owns 235,895 shares of the technology company’s stock valued at $6,735,000 after purchasing an additional 50,050 shares during the last quarter. Dupont Capital Management Corp raised its position in Jabil Circuit by 236.2% during the 3rd quarter. Dupont Capital Management Corp now owns 224,800 shares of the technology company’s stock valued at $6,418,000 after purchasing an additional 157,937 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. raised its position in Jabil Circuit by 13.1% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 29,531 shares of the technology company’s stock valued at $844,000 after purchasing an additional 3,432 shares during the last quarter. 96.08% of the stock is owned by institutional investors.
Jabil Circuit Company Profile
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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