Jack in the Box Inc. (NASDAQ:JACK) to Issue $0.44 Quarterly Dividend

Jack in the Box Inc. (NASDAQ:JACK) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be given a dividend of 0.44 per share by the restaurant operator on Tuesday, April 8th. This represents a $1.76 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, March 20th.

Jack in the Box has increased its dividend payment by an average of 0.8% annually over the last three years. Jack in the Box has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Jack in the Box to earn $5.97 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 29.5%.

Jack in the Box Stock Up 11.8 %

Shares of JACK stock opened at $37.94 on Thursday. Jack in the Box has a 12-month low of $32.69 and a 12-month high of $76.56. The firm has a market capitalization of $715.40 million, a price-to-earnings ratio of -19.46, a price-to-earnings-growth ratio of 1.29 and a beta of 1.94. The firm has a fifty day moving average of $39.55 and a 200-day moving average of $44.56.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $469.44 million during the quarter, compared to analyst estimates of $470.47 million. Research analysts expect that Jack in the Box will post 5.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Sarah L. Super sold 1,688 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the sale, the senior vice president now directly owns 16,815 shares of the company’s stock, valued at approximately $681,343.80. This represents a 9.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 2,190 shares of company stock valued at $92,961 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Jack in the Box from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank of Canada reduced their target price on shares of Jack in the Box from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. Northcoast Research lowered shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. TD Securities reaffirmed a “hold” rating and issued a $42.00 target price on shares of Jack in the Box in a research note on Wednesday. Finally, Oppenheimer reduced their target price on shares of Jack in the Box from $60.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.88.

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.