Invenomic Capital Management LP Purchases Shares of 253,581 Jack in the Box Inc. (NASDAQ:JACK)

Invenomic Capital Management LP purchased a new stake in Jack in the Box Inc. (NASDAQ:JACK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 253,581 shares of the restaurant operator’s stock, valued at approximately $11,802,000.

Several other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Jack in the Box by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock valued at $33,156,000 after purchasing an additional 85,461 shares during the period. Victory Capital Management Inc. raised its stake in Jack in the Box by 261.5% during the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after purchasing an additional 403,423 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Jack in the Box by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock worth $18,081,000 after acquiring an additional 8,038 shares during the last quarter. Clearline Capital LP increased its stake in shares of Jack in the Box by 4.1% in the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after acquiring an additional 10,304 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Jack in the Box by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after acquiring an additional 18,874 shares during the last quarter. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Price Performance

JACK opened at $49.34 on Tuesday. Jack in the Box Inc. has a one year low of $40.84 and a one year high of $86.20. The company’s 50 day simple moving average is $46.68 and its 200-day simple moving average is $49.94.

Jack in the Box Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.76 annualized dividend and a dividend yield of 3.57%. Jack in the Box’s dividend payout ratio (DPR) is currently -90.26%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JACK. UBS Group dropped their price target on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Piper Sandler decreased their price objective 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. Truist Financial decreased their price target on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Finally, Royal Bank of Canada decreased their price target on shares of Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.38.

Jack in the Box Company Profile

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.