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

StockNews.com cut shares of Jack in the Box (NASDAQ:JACK) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Several other brokerages also recently issued reports on JACK. Truist Financial lowered their price target 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, November 22nd. Northcoast Research cut Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Oppenheimer cut their price target on Jack in the Box from $60.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Wedbush reduced their price target on 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, Bank of America raised their price objective on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.76.

Jack in the Box Trading Down 2.2 %

JACK opened at $38.66 on Wednesday. The company’s 50 day moving average is $43.72 and its 200-day moving average is $47.31. The company has a market cap of $728.01 million, a P/E ratio of -19.83, a PEG ratio of 1.22 and a beta of 1.94. Jack in the Box has a 1-year low of $36.36 and a 1-year high of $81.01.

Jack in the Box Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Thursday, December 12th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, December 12th. This represents a $1.76 annualized dividend and a yield of 4.55%. Jack in the Box’s payout ratio is -90.26%.

Insider Activity

In related news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the transaction, the senior vice president now owns 16,815 shares of the company’s stock, valued at approximately $681,343.80. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 2,343 shares of company stock worth $100,601 over the last three months. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Jack in the Box

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in Jack in the Box by 6.5% during the second quarter. Envestnet Asset Management Inc. now owns 98,975 shares of the restaurant operator’s stock worth $5,042,000 after buying an additional 6,064 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Jack in the Box by 31.9% in the 2nd quarter. Inspire Investing LLC now owns 7,647 shares of the restaurant operator’s stock worth $390,000 after acquiring an additional 1,851 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Jack in the Box in the second quarter valued at about $509,000. Sei Investments Co. lifted its position in shares of Jack in the Box by 46.6% during the second quarter. Sei Investments Co. now owns 13,414 shares of the restaurant operator’s stock valued at $683,000 after purchasing an additional 4,266 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Jack in the Box by 70.2% during the second quarter. Ensign Peak Advisors Inc now owns 23,648 shares of the restaurant operator’s stock worth $1,205,000 after purchasing an additional 9,750 shares during the last quarter. 99.79% of the stock is owned by hedge funds and other 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.