StockNews.com Upgrades Jack in the Box (NASDAQ:JACK) to “Hold”

StockNews.com upgraded shares of Jack in the Box (NASDAQ:JACK) from a sell rating to a hold rating in a report published on Thursday morning.

A number of other equities research analysts have also issued reports on JACK. Northcoast Research lowered shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Piper Sandler cut their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $60.00 price objective on shares of Jack in the Box in a research report on Thursday. Barclays lifted their target price on Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Bank of America increased their price target on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Stock Performance

NASDAQ JACK opened at $47.50 on Thursday. The stock’s fifty day moving average is $46.34 and its two-hundred day moving average is $50.18. The firm has a market capitalization of $908.49 million, a P/E ratio of -24.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20.

Jack in the Box Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio is currently -90.26%.

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Hedge funds and other institutional investors have recently modified their holdings of the company. UniSuper Management Pty Ltd purchased a new position in Jack in the Box in the first quarter valued at $425,000. CANADA LIFE ASSURANCE Co raised its position in shares of Jack in the Box by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after acquiring an additional 790 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Jack in the Box by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after purchasing an additional 644 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Jack in the Box in the second quarter valued at approximately $3,311,000. 99.79% of the stock is currently owned by institutional investors and hedge funds.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.