Prudential Financial Inc. boosted its stake in shares of Jack in the Box Inc. (NASDAQ:JACK) by 207.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 97,883 shares of the restaurant operator’s stock after purchasing an additional 66,021 shares during the quarter. Prudential Financial Inc.’s holdings in Jack in the Box were worth $7,966,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of JACK. Strs Ohio bought a new position in Jack in the Box in the 2nd quarter valued at $40,000. Acadian Asset Management LLC bought a new stake in shares of Jack in the Box during the second quarter worth $159,000. Convergence Investment Partners LLC bought a new stake in shares of Jack in the Box during the second quarter worth $201,000. Envestnet Asset Management Inc. acquired a new stake in shares of Jack in the Box in the second quarter valued at $237,000. Finally, Sciencast Management LP acquired a new stake in shares of Jack in the Box in the second quarter valued at $279,000.
In other Jack in the Box news, EVP Phillip H. Rudolph sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $86.16, for a total value of $516,960.00. Following the transaction, the executive vice president now directly owns 26,097 shares of the company’s stock, valued at $2,248,517.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Leonard A. Comma sold 15,000 shares of Jack in the Box stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $86.10, for a total transaction of $1,291,500.00. Following the sale, the chief executive officer now directly owns 204,552 shares of the company’s stock, valued at approximately $17,611,927.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,080 shares of company stock valued at $3,047,960. 2.30% of the stock is currently owned by insiders.
Jack in the Box (NASDAQ:JACK) last released its earnings results on Wednesday, August 7th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $222.36 million for the quarter, compared to the consensus estimate of $220.44 million. Jack in the Box had a net margin of 9.78% and a negative return on equity of 18.59%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS. Sell-side analysts predict that Jack in the Box Inc. will post 4.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, August 16th. Jack in the Box’s dividend payout ratio (DPR) is 42.22%.
Several research analysts recently issued reports on the stock. Wedbush upgraded shares of Jack in the Box from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $75.00 to $105.00 in a research report on Friday, August 9th. BidaskClub upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Telsey Advisory Group boosted their target price on shares of Jack in the Box from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Morgan Stanley set a $89.00 target price on shares of Jack in the Box and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Cowen reiterated a “hold” rating on shares of Jack in the Box in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $92.33.
Jack in the Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.
Further Reading: Earnings Reports
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