UBS Group Cuts Jack in the Box (NASDAQ:JACK) Price Target to $50.00

Jack in the Box (NASDAQ:JACK) had its price objective trimmed by UBS Group from $55.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Other equities analysts also recently issued reports about the stock. TD Cowen reaffirmed a hold rating and set a $57.00 price objective on shares of Jack in the Box in a research note on Thursday, September 12th. Wedbush decreased their target price on Jack in the Box from $68.00 to $60.00 and set an outperform rating for the company in a report on Wednesday, August 7th. StockNews.com lowered Jack in the Box from a hold rating to a sell rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a hold rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler dropped their target price on shares of Jack in the Box from $60.00 to $56.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $68.63.

Jack in the Box Stock Down 0.7 %

Shares of Jack in the Box stock traded down $0.31 during trading on Friday, reaching $45.15. The company’s stock had a trading volume of 735,740 shares, compared to its average volume of 506,124. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20. The firm’s 50-day moving average is $49.40 and its two-hundred day moving average is $54.07. The company has a market cap of $875.46 million, a price-to-earnings ratio of 7.95, a PEG ratio of 0.70 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.14. The firm had revenue of $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.45 earnings per share. On average, equities research analysts anticipate that Jack in the Box will post 6.22 EPS for the current year.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.90%. Jack in the Box’s payout ratio is currently 30.99%.

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The stock was 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 of the company’s stock, valued at $642,360.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in shares of Jack in the Box by 9.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 179 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Jack in the Box by 2.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock worth $779,000 after buying an additional 277 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Jack in the Box by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after buying an additional 358 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Jack in the Box by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Jack in the Box by 8.8% during the 1st quarter. Inspire Investing LLC now owns 5,796 shares of the restaurant operator’s stock valued at $397,000 after acquiring an additional 471 shares during the last quarter. 99.79% of the stock is owned by institutional investors.

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.