Jack in the Box (NASDAQ:JACK) Upgraded 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 sent to investors on Friday morning.

JACK has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Stifel Nicolaus cut their price target on Jack in the Box from $55.00 to $52.00 and set a “hold” rating for the company in a report on Monday, December 9th. Wedbush reduced their price objective on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. Truist Financial dropped their target price on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Barclays increased their price target on shares of Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.88.

Jack in the Box Price Performance

JACK opened at $40.73 on Friday. The company has a market capitalization of $766.99 million, a PE ratio of -20.89, a price-to-earnings-growth ratio of 1.59 and a beta of 1.92. Jack in the Box has a fifty-two week low of $38.12 and a fifty-two week high of $86.20. The business has a 50-day moving average of $46.96 and a 200-day moving average of $49.11.

Jack in the Box Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s payout ratio is presently -90.26%.

Hedge Funds Weigh In On Jack in the Box

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of Jack in the Box by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after purchasing an additional 358 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Jack in the Box by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after buying an additional 503 shares during the period. MML Investors Services LLC raised its position in shares of Jack in the Box by 20.3% during the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 819 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Jack in the Box during the third quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Jack in the Box by 172.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after acquiring an additional 1,354 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

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.