The Manufacturers Life Insurance Company Buys 358 Shares of Jack in the Box Inc. (NASDAQ:JACK)

The Manufacturers Life Insurance Company grew its stake in shares of Jack in the Box Inc. (NASDAQ:JACK) by 3.8% in the second quarter, HoldingsChannel.com reports. The fund owned 9,733 shares of the restaurant operator’s stock after acquiring an additional 358 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Jack in the Box were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Jack in the Box by 26.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after acquiring an additional 130,214 shares during the period. Victory Capital Management Inc. lifted its position in shares of 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 worth $28,408,000 after buying an additional 403,423 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Jack in the Box by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after buying an additional 18,874 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Jack in the Box by 10.2% during the 2nd quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock worth $12,266,000 after buying an additional 22,226 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Jack in the Box by 21.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after buying an additional 23,770 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors.

Jack in the Box Stock Performance

Shares of NASDAQ JACK opened at $46.71 on Thursday. The company has a market capitalization of $905.71 million, a P/E ratio of 8.22, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94. Jack in the Box Inc. has a 52-week low of $40.84 and a 52-week high of $86.20. The company’s 50 day moving average price is $47.39 and its 200-day moving average price is $52.43.

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

Jack in the Box Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were given a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.77%. Jack in the Box’s dividend payout ratio (DPR) is currently 30.99%.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares in the company, valued at approximately $642,360.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. TD Cowen dropped their price objective on Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday. Bank of America dropped their price objective on Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Oppenheimer cut their price objective 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. Finally, Truist Financial lowered their target price on Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.56.

Jack in the Box 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.