Jabil Circuit Inc. (JBL) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its position in Jabil Circuit Inc. (NYSE:JBL) by 49.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,284 shares of the company’s stock after selling 112,733 shares during the period. Palouse Capital Management Inc. owned 0.06% of Jabil Circuit worth $2,537,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Jabil Circuit by 57.2% in the second quarter. FMR LLC now owns 16,352,044 shares of the company’s stock worth $302,022,000 after buying an additional 5,952,664 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Jabil Circuit during the second quarter worth $48,592,000. Fairpointe Capital LLC boosted its stake in Jabil Circuit by 14.6% in the second quarter. Fairpointe Capital LLC now owns 6,716,504 shares of the company’s stock worth $124,054,000 after buying an additional 857,238 shares during the last quarter. Frontier Capital Management Co. LLC boosted 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 during the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in Jabil Circuit during the third quarter worth $10,175,000. 94.05% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Jabil Circuit (NYSE:JBL)

Shares of Jabil Circuit Inc. (NYSE:JBL) traded down 0.65% during midday trading on Thursday, hitting $23.08. 780,554 shares of the company’s stock traded hands. The stock has a market cap of $4.21 billion, a P/E ratio of 20.91 and a beta of 0.93. Jabil Circuit Inc. has a 52 week low of $16.78 and a 52 week high of $25.14. The company has a 50 day moving average of $22.84 and a 200 day moving average of $21.49.

Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Thursday, December 15th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The business had revenue of $5.10 billion for the quarter. Jabil Circuit had a return on equity of 11.81% and a net margin of 1.15%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. On average, equities analysts forecast that Jabil Circuit Inc. will post $2.05 EPS for the current fiscal year.

A number of analysts have weighed in on JBL shares. B. Riley cut shares of Jabil Circuit from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $27.00 to $24.00 in a report on Wednesday, December 7th. Zacks Investment Research cut shares of Jabil Circuit from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Goldman Sachs Group Inc. restated a “neutral” rating and set a $23.00 target price (up from $21.00) on shares of Jabil Circuit in a research report on Friday, September 30th. Standpoint Research upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Tuesday, November 22nd. Finally, Needham & Company LLC lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.15.

In other Jabil Circuit news, CEO Michael J. Loparco sold 4,000 shares of the stock in a transaction on Friday, December 16th. The stock was sold at an average price of $24.40, for a total value of $97,600.00. Following the sale, the chief executive officer now directly owns 267,815 shares of the company’s stock, valued at $6,534,686. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President William E. Peters sold 33,000 shares of the stock in a transaction on Friday, December 16th. The stock was 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 disclosure for this sale can be found here. Insiders sold 76,956 shares of company stock worth $1,895,275 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Jabil Circuit Company Profile

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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