Jack in the Box (NASDAQ:JACK) Rating Lowered to “Sell” at StockNews.com

StockNews.com lowered shares of Jack in the Box (NASDAQ:JACK) from a hold rating to a sell rating in a report published on Monday morning.

JACK has been the subject of several other research reports. Stifel Nicolaus decreased their target price on Jack in the Box from $55.00 to $52.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Oppenheimer reissued 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. The Goldman Sachs Group dropped their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada reduced their price target on shares of Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Wedbush dropped their price objective 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.88.

Jack in the Box Trading Down 0.2 %

NASDAQ JACK opened at $42.30 on Monday. Jack in the Box has a 1 year low of $38.12 and a 1 year high of $86.20. The company has a fifty day simple moving average of $46.40 and a 200 day simple moving average of $48.51. The company has a market cap of $796.55 million, a P/E ratio of -21.69, a P/E/G ratio of 1.49 and a beta of 1.92.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Thursday, December 12th were paid a $0.44 dividend. The ex-dividend date was Thursday, December 12th. This represents a $1.76 annualized dividend and a dividend yield of 4.16%. Jack in the Box’s dividend payout ratio is presently -90.26%.

Insider Transactions at Jack in the Box

In related news, SVP Sarah L. Super sold 1,688 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $40.52, for a total transaction of $68,397.76. Following the sale, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. This represents a 9.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 2,343 shares of company stock valued at $100,601. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Jack in the Box

A number of institutional investors and hedge funds have recently bought and sold shares of JACK. Allspring Global Investments Holdings LLC raised its holdings in shares of Jack in the Box by 13.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock valued at $33,156,000 after buying an additional 85,461 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Jack in the Box by 261.5% in the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after acquiring an additional 403,423 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 in the last quarter. Clearline Capital LP grew its stake in shares of Jack in the Box by 4.1% during the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock valued at $12,134,000 after purchasing an additional 10,304 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Jack in the Box in the third quarter valued at approximately $11,802,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.