Wells Fargo & Company MN lowered its position in Jabil Circuit Inc. (NYSE:JBL) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,012,298 shares of the company’s stock after selling 546,850 shares during the period. Wells Fargo & Company MN’s holdings in Jabil Circuit were worth $87,549,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in JBL. Frontier Capital Management Co. LLC raised its stake in Jabil Circuit by 26.6% in the second quarter. Frontier Capital Management Co. LLC now owns 2,839,072 shares of the company’s stock worth $52,438,000 after buying an additional 597,003 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Jabil Circuit during the second quarter valued at about $48,592,000. Retirement Systems of Alabama raised its position in shares of Jabil Circuit by 0.4% in the second quarter. Retirement Systems of Alabama now owns 246,624 shares of the company’s stock valued at $4,555,000 after buying an additional 918 shares during the period. First Midwest Bank Trust Division raised its position in shares of Jabil Circuit by 9.1% in the second quarter. First Midwest Bank Trust Division now owns 28,268 shares of the company’s stock valued at $523,000 after buying an additional 2,350 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Jabil Circuit by 11.0% in the second quarter. Principal Financial Group Inc. now owns 719,024 shares of the company’s stock valued at $13,281,000 after buying an additional 71,375 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Jabil Circuit Inc. (NYSE:JBL) opened at 23.20 on Friday. The firm’s 50-day moving average is $22.70 and its 200 day moving average is $21.37. Jabil Circuit Inc. has a 12 month low of $16.78 and a 12 month high of $25.14. The company has a market capitalization of $4.23 billion, a PE ratio of 21.01 and a beta of 0.93.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Thursday, December 15th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Jabil Circuit had a net margin of 1.15% and a return on equity of 11.81%. The company earned $5.10 billion during the quarter. During the same quarter last year, the company earned $0.85 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Jabil Circuit Inc. will post $2.05 EPS for the current year.
Several equities analysts have recently issued reports on JBL shares. B. Riley raised shares of Jabil Circuit from a “neutral” rating to a “buy” rating in a report on Thursday, December 15th. Standpoint Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a report on Tuesday, November 22nd. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, December 21st. Deutsche Bank AG reissued a “hold” rating and issued a $22.00 price target (up previously from $20.00) on shares of Jabil Circuit in a report on Monday, December 19th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $23.00 price target (up previously from $21.00) on shares of Jabil Circuit in a report on Friday, September 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Jabil Circuit presently has a consensus rating of “Hold” and a consensus target price of $31.15.
In other Jabil Circuit news, President William E. Peters sold 33,000 shares of the firm’s stock in a transaction on Friday, December 16th. The shares were sold at an average price of $24.50, for a total value of $808,500.00. Following the completion of the sale, the president now directly owns 796,751 shares in the company, valued at $19,520,399.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Loparco sold 4,000 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $24.40, for a total transaction of $97,600.00. Following the completion of the sale, the chief executive officer now owns 267,815 shares of the company’s stock, valued at $6,534,686. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,956 shares of company stock valued at $1,895,275. 2.90% of the stock is currently owned by corporate insiders.
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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