Jack in the Box Inc. (NASDAQ:JACK) CEO Sells $30,880.72 in Stock

Jack in the Box Inc. (NASDAQ:JACK) CEO Darin S. Harris sold 598 shares of Jack in the Box stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the transaction, the chief executive officer now directly owns 90,887 shares in the company, valued at $4,693,404.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Jack in the Box Stock Down 3.3 %

Shares of JACK stock traded down $1.69 on Tuesday, reaching $49.82. The stock had a trading volume of 384,165 shares, compared to its average volume of 489,089. Jack in the Box Inc. has a 12 month low of $49.77 and a 12 month high of $99.56. The firm has a market capitalization of $966.01 million, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.70 and a beta of 1.89. The firm’s 50-day moving average is $55.10 and its two-hundred day moving average is $67.89.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, May 14th. The restaurant operator reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The firm had revenue of $365.40 million for the quarter, compared to analyst estimates of $369.53 million. During the same quarter in the prior year, the company earned $1.47 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that Jack in the Box Inc. will post 6.31 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.53%. Jack in the Box’s dividend payout ratio is currently 30.99%.

Institutional Trading of Jack in the Box

A number of hedge funds have recently modified their holdings of the stock. LSV Asset Management grew its holdings in Jack in the Box by 74.4% in the 4th quarter. LSV Asset Management now owns 996,472 shares of the restaurant operator’s stock valued at $81,342,000 after buying an additional 425,079 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Jack in the Box by 11.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 499,987 shares of the restaurant operator’s stock worth $40,814,000 after purchasing an additional 53,294 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Jack in the Box by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 358,800 shares of the restaurant operator’s stock worth $29,289,000 after purchasing an additional 1,968 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Jack in the Box by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 347,303 shares of the restaurant operator’s stock valued at $28,350,000 after buying an additional 15,061 shares during the period. Finally, Earnest Partners LLC grew its position in Jack in the Box by 1.4% during the third quarter. Earnest Partners LLC now owns 270,106 shares of the restaurant operator’s stock worth $18,654,000 after buying an additional 3,649 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

Analysts Set New Price Targets

JACK has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price objective on shares of Jack in the Box in a report on Friday, June 7th. Morgan Stanley dropped their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Truist Financial reduced their target price on shares of Jack in the Box from $99.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wedbush dropped their price target on Jack in the Box from $78.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Finally, Bank of America reduced their price objective on Jack in the Box from $87.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus price target of $75.94.

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.