First Mercantile Trust Co Lowers stake in Jabil Circuit (JBL)

Jabil Circuit (JBL) : First Mercantile Trust Co reduced its stake in Jabil Circuit by 7.85% during the most recent quarter end. The investment management company now holds a total of 37,563 shares of Jabil Circuit which is valued at $818,122 after selling 3,199 shares in Jabil Circuit , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Jabil Circuit makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in JBL by selling 68,957 shares or 20.38% in the most recent quarter. The Hedge Fund company now holds 269,346 shares of JBL which is valued at $5,904,064. Jabil Circuit makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.North Star Asset Management Inc reduced its stake in JBL by selling 1,346 shares or 3.53% in the most recent quarter. The Hedge Fund company now holds 36,780 shares of JBL which is valued at $806,218. Jabil Circuit makes up approx 0.09% of North Star Asset Management Inc’s portfolio. Eqis Capital Management sold out all of its stake in JBL during the most recent quarter. The investment firm sold 15,195 shares of JBL which is valued $333,074.Washington Trust Bank reduced its stake in JBL by selling 1,762 shares or 45.7% in the most recent quarter. The Hedge Fund company now holds 2,094 shares of JBL which is valued at $45,900. Jabil Circuit makes up approx 0.01% of Washington Trust Bank’s portfolio.

Jabil Circuit closed down -0.24 points or -1.09% at $21.78 with 11,68,310 shares getting traded on Friday. Post opening the session at $21.98, the shares hit an intraday low of $21.68 and an intraday high of $22.11 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Jabil Circuit reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.25. The company had revenue of $4400.00 million for the quarter, compared to analysts expectations of $4264.60 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on Jabil Circuit. Jabil Circuit was Downgraded by Needham to ” Hold” on Sep 23, 2016. Company shares were Reiterated by RBC Capital Mkts on Sep 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Company shares were Upgraded by UBS on Sep 21, 2016 to ” Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .

Jabil Circuit Inc. provides electronic manufacturing services and solutions. The Company provides electronic design production and product management services to companies in the aerospace automotive computing defense digital home energy healthcare industrial instrumentation lifestyles mobility mold networking packaging peripherals storage telecommunications and wearable technology industries. The Company’s operating segments include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The EMS segment is focused around leveraging information technology (IT) supply chain design and engineering technologies centered on core electronics. The DMS segment is focused on providing engineering solutions heavy participation in consumer markets access to higher growth markets and a focus on material sciences and technologies.

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