Jack in the Box (NASDAQ:JACK) Given New $51.00 Price Target at Truist Financial

Jack in the Box (NASDAQ:JACK) had its price target reduced by Truist Financial from $57.00 to $51.00 in a research note released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts have also recently issued reports about the stock. Guggenheim decreased their price objective on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Wedbush downgraded Jack in the Box from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $40.00 in a research note on Friday, February 21st. TD Cowen reissued a “hold” rating and issued a $50.00 price target on shares of Jack in the Box in a research report on Thursday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 target price on shares of Jack in the Box in a research note on Thursday, January 16th. Finally, Morgan Stanley decreased their price target on shares of Jack in the Box from $53.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.88.

Jack in the Box Stock Up 11.8 %

NASDAQ:JACK opened at $37.94 on Wednesday. The business’s 50-day moving average price is $39.55 and its 200 day moving average price is $44.56. Jack in the Box has a 52-week low of $32.69 and a 52-week high of $76.56. The firm has a market cap of $715.40 million, a P/E ratio of -19.46, a PEG ratio of 1.29 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.21. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. The firm had revenue of $469.44 million during the quarter, compared to analyst estimates of $470.47 million. Sell-side analysts expect that Jack in the Box will post 5.33 EPS for the current year.

Jack in the Box Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, March 20th. Jack in the Box’s dividend payout ratio (DPR) is currently -90.26%.

Insider Activity at Jack in the Box

In related news, SVP Sarah L. Super sold 1,688 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the transaction, the senior vice president now owns 16,815 shares in the company, valued at approximately $681,343.80. The trade was a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 2,190 shares of company stock worth $92,961. 1.40% of the stock is owned by insiders.

Institutional Trading of Jack in the Box

A number of large investors have recently made changes to their positions in JACK. PVG Asset Management Corp bought a new position in shares of Jack in the Box during the 4th quarter valued at about $238,000. Public Employees Retirement System of Ohio bought a new stake in shares of Jack in the Box during the fourth quarter worth $40,000. Novem Group bought a new stake in shares of Jack in the Box during the fourth quarter worth $212,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Jack in the Box by 16.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,676 shares of the restaurant operator’s stock valued at $1,444,000 after acquiring an additional 5,022 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in Jack in the Box in the 4th quarter worth $4,249,000. Institutional investors own 99.79% of the company’s stock.

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.