Insider Selling: Jack in the Box Inc. (NASDAQ:JACK) CEO Sells 743 Shares of Stock

Jack in the Box Inc. (NASDAQ:JACK – Get Rating) CEO Darin S. Harris sold 743 shares of the company’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $57.42, for a total transaction of $42,663.06. Following the completion of the transaction, the chief executive officer now owns 36,778 shares of the company’s stock, valued at $2,111,792.76. The sale was disclosed in a filing with the SEC, which is available at this link.

NASDAQ JACK traded up $1.93 on Thursday, reaching $58.98. 348,257 shares of the stock were exchanged, compared to its average volume of 470,416. Jack in the Box Inc. has a one year low of $56.03 and a one year high of $122.35. The firm has a market capitalization of $1.24 billion, a PE ratio of 10.15, a PEG ratio of 0.59 and a beta of 1.72. The company’s 50-day simple moving average is $74.66 and its two-hundred day simple moving average is $83.25.

Jack in the Box (NASDAQ:JACK – Get Rating) last released its quarterly earnings data on Thursday, May 26th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.20). Jack in the Box had a net margin of 10.37% and a negative return on equity of 18.18%. The company had revenue of $322.29 million for the quarter, compared to the consensus estimate of $340.81 million. During the same quarter in the previous year, the business earned $1.48 EPS. The company’s quarterly revenue was up 25.3% on a year-over-year basis. As a group, research analysts predict that Jack in the Box Inc. will post 5.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Tuesday, June 7th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Monday, June 6th. Jack in the Box’s dividend payout ratio is presently 30.29%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Jack in the Box by 36.3% in the first quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock worth $306,789,000 after purchasing an additional 874,419 shares during the last quarter. Vanguard Group Inc. boosted its stake in Jack in the Box by 10.1% during the first quarter. Vanguard Group Inc. now owns 2,254,354 shares of the restaurant operator’s stock worth $210,580,000 after buying an additional 207,183 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Jack in the Box during the fourth quarter worth $106,700,000. Capital World Investors purchased a new position in Jack in the Box during the first quarter worth $98,706,000. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Jack in the Box by 45.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 938,622 shares of the restaurant operator’s stock valued at $82,111,000 after purchasing an additional 292,155 shares during the period. Institutional investors own 99.09% of the company’s stock.

Several research analysts have commented on JACK shares. StockNews.com began coverage on shares of Jack in the Box in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their price target on shares of Jack in the Box from $98.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, May 27th. Cowen lowered shares of Jack in the Box from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Barclays reduced their price objective on shares of Jack in the Box from $94.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Finally, Cowen lowered shares of Jack in the Box from an “outperform” rating to a “market perform” rating and set a $68.00 price objective for the company. in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $99.04.

About Jack in the Box (Get Rating)

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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