Analysts Set Jack in the Box Inc. (NASDAQ:JACK) Target Price at $62.00

Shares of Jack in the Box Inc. (NASDAQ:JACK) have earned a consensus rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $60.38.

Several research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a report on Friday. Wedbush cut their price target on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 18th. UBS Group reduced their price objective on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Bank of America increased their target price on Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th.

Insider Transactions at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction dated 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 directly owns 13,201 shares in the company, valued at $642,360.66. This represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

A number of large investors have recently modified their holdings of JACK. Manning & Napier Advisors LLC bought a new stake in Jack in the Box during the 2nd quarter valued at $3,311,000. Aigen Investment Management LP raised its holdings in shares of Jack in the Box by 238.5% in the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock valued at $1,018,000 after acquiring an additional 15,409 shares in the last quarter. Access Investment Management LLC purchased a new stake in Jack in the Box in the third quarter worth about $1,475,000. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $31,937,000 after acquiring an additional 130,214 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in 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 valued at $12,505,000 after purchasing an additional 18,874 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Stock Performance

Shares of NASDAQ:JACK opened at $47.50 on Friday. The firm has a market cap of $908.49 million, a price-to-earnings ratio of -24.36, a P/E/G ratio of 1.49 and a beta of 1.93. The firm has a fifty day moving average price of $46.34 and a 200 day moving average price of $50.15. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20.

Jack in the Box Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be paid a $0.44 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. Jack in the Box’s payout ratio is -90.26%.

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.