Emerald Mutual Fund Advisers Trust Has $8.04 Million Stock Holdings in Jack in the Box Inc. (NASDAQ:JACK)

Emerald Mutual Fund Advisers Trust trimmed its position in Jack in the Box Inc. (NASDAQ:JACK) by 23.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,776 shares of the restaurant operator’s stock after selling 48,785 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.81% of Jack in the Box worth $8,037,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Jack in the Box by 261.5% during the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after purchasing an additional 403,423 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Jack in the Box during the second quarter valued at about $1,070,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Jack in the Box by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 503 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Jack in the Box by 26.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after acquiring an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Jack in the Box by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after acquiring an additional 18,874 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Darin S. Harris sold 598 shares of Jack in the Box stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the transaction, the chief executive officer now directly owns 90,887 shares in the company, valued at approximately $4,693,404.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Darin S. Harris sold 598 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the completion of the sale, the chief executive officer now directly owns 90,887 shares in the company, valued at $4,693,404.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,348 shares of company stock valued at $67,476 over the last quarter. Company insiders own 1.60% of the company’s stock.

Jack in the Box Trading Down 0.8 %

Shares of NASDAQ JACK opened at $45.84 on Friday. The stock has a fifty day simple moving average of $52.11 and a two-hundred day simple moving average of $57.72. Jack in the Box Inc. has a 1-year low of $45.24 and a 1-year high of $86.20. The firm has a market cap of $888.84 million, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 0.77 and a beta of 1.95.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The company had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. During the same quarter in the prior year, the company earned $1.45 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts forecast that Jack in the Box Inc. will post 6.23 EPS for the current year.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is currently 30.99%.

Analysts Set New Price Targets

Several analysts have recently commented on JACK shares. Bank of America lowered their price objective on Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. TD Cowen cut their price objective on shares of Jack in the Box from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Truist Financial lowered their target price on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.35.

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.