Jack in the Box (NASDAQ:JACK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Jack in the Box (NASDAQ:JACK) from a sell rating to a hold rating in a research report released on Thursday morning.

JACK has been the topic of a number of other reports. Northcoast Research lowered Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. TD Cowen reissued a “hold” rating and issued a $50.00 target price on shares of Jack in the Box in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday. Wedbush decreased their price target on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.38.

Jack in the Box Stock Performance

Shares of JACK opened at $47.50 on Thursday. Jack in the Box 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 $908.49 million, a PE ratio of -24.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. The stock has a fifty day moving average of $46.34 and a two-hundred day moving average of $50.15.

Jack in the Box Dividend Announcement

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

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Jack in the Box

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Jack in the Box by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after acquiring an additional 85,461 shares in the last quarter. Victory Capital Management Inc. raised 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 valued at $28,408,000 after acquiring an additional 403,423 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Jack in the Box by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock worth $18,081,000 after purchasing an additional 8,038 shares during the last quarter. Clearline Capital LP boosted its holdings in Jack in the Box by 4.1% in the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after purchasing an additional 10,304 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in Jack in the Box in the third quarter worth $11,802,000. 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.