Jack in the Box (NASDAQ:JACK) Rating Increased 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 report published on Friday morning.

JACK has been the topic of several other research reports. UBS Group decreased their price target 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. Deutsche Bank Aktiengesellschaft decreased their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Truist Financial dropped their price target on Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Oppenheimer reiterated an “outperform” rating and issued a $60.00 price objective on shares of Jack in the Box in a research report on Thursday, November 21st. Finally, Piper Sandler dropped their target price on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Jack in the Box has a consensus rating of “Hold” and a consensus price target of $60.38.

Jack in the Box Stock Up 4.2 %

Shares of NASDAQ JACK opened at $48.85 on Friday. The firm has a 50-day moving average price of $46.68 and a 200 day moving average price of $49.97. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20. The stock has a market capitalization of $919.89 million, a price-to-earnings ratio of -25.05, a price-to-earnings-growth ratio of 1.60 and a beta of 1.93.

Jack in the Box Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio is currently -90.26%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Jack in the Box by 261.5% during the second 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 period. Invenomic Capital Management LP acquired a new stake in Jack in the Box in the third quarter valued at $11,802,000. Clearline Capital LP grew its stake in Jack in the Box by 136.7% in the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after purchasing an additional 144,631 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Jack in the Box by 26.2% in 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, Squarepoint Ops LLC increased its stake in Jack in the Box by 296.5% during the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock valued at $6,884,000 after purchasing an additional 101,064 shares during the last quarter. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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.