Squarepoint Ops LLC Raises Stock Position in Jack in the Box Inc. (NASDAQ:JACK)

Squarepoint Ops LLC increased its position in shares of Jack in the Box Inc. (NASDAQ:JACK) by 296.5% during the second quarter, Holdings Channel reports. The institutional investor owned 135,146 shares of the restaurant operator’s stock after buying an additional 101,064 shares during the quarter. Squarepoint Ops LLC’s holdings in Jack in the Box were worth $6,884,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after purchasing an additional 403,423 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Jack in the Box in the 4th quarter worth about $11,424,000. Allspring Global Investments Holdings LLC boosted its stake in Jack in the Box by 26.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after buying an additional 130,214 shares during the last quarter. UBS Group AG lifted its stake in shares of Jack in the Box by 678.4% in the 4th quarter. UBS Group AG now owns 105,203 shares of the restaurant operator’s stock valued at $8,588,000 after purchasing an additional 91,688 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Jack in the Box in the 2nd quarter valued at about $3,311,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

Jack in the Box Stock Performance

Shares of NASDAQ:JACK opened at $45.41 on Monday. Jack in the Box Inc. has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The business has a 50-day simple moving average of $50.17 and a two-hundred day simple moving average of $54.57. The firm has a market cap of $880.50 million, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.70 and a beta of 1.95.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The business had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. During the same period in the prior year, the company posted $1.45 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts predict that Jack in the Box Inc. will post 6.22 earnings per share for the current year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.88%. Jack in the Box’s dividend payout ratio is presently 30.99%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group initiated coverage on Jack in the Box in a research note on Thursday, June 13th. They issued a “sell” rating and a $55.00 price objective on the stock. Morgan Stanley cut their target price on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Wedbush dropped their price target on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Bank of America dropped their target price on Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.35.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the sale, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.