Allspring Global Investments Holdings LLC Purchases 85,461 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Allspring Global Investments Holdings LLC grew its holdings in shares of Jack in the Box Inc. (NASDAQ:JACK) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 712,416 shares of the restaurant operator’s stock after buying an additional 85,461 shares during the period. Allspring Global Investments Holdings LLC owned 3.67% of Jack in the Box worth $33,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JACK. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in 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 valued at $9,387,000 after buying an additional 23,770 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Jack in the Box during the second quarter valued at $3,311,000. Seven Eight Capital LP purchased a new position in shares of Jack in the Box in the 1st quarter worth about $1,096,000. Bank of New York Mellon Corp boosted its stake in Jack in the Box by 8.3% in 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 purchasing an additional 18,874 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Jack in the Box by 386.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 30,190 shares of the restaurant operator’s stock valued at $1,538,000 after purchasing an additional 23,990 shares during the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Barclays lowered their price objective on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wedbush reduced 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. The Goldman Sachs Group lowered their price target on Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a report on Monday. Finally, Morgan Stanley reduced 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 report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $64.25.

Insider Activity at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the firm’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 directly owns 13,201 shares of the company’s stock, valued at $642,360.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Jack in the Box Stock Performance

NASDAQ JACK opened at $46.47 on Thursday. The business’s fifty day moving average is $46.75 and its 200 day moving average is $51.82. Jack in the Box Inc. has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The company has a market capitalization of $901.05 million, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share 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 business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 EPS. On average, sell-side analysts forecast that Jack in the Box Inc. will post 6.22 EPS for the current year.

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were given a dividend of $0.44 per share. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.79%. Jack in the Box’s payout ratio is 30.99%.

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.