Jack in the Box (NASDAQ:JACK) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Jack in the Box (NASDAQ:JACK) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other brokerages also recently weighed in on JACK. UBS Group cut their price target on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a report on Thursday. Truist Financial lowered their price target on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Piper Sandler reduced their price objective on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Guggenheim lowered their target price on Jack in the Box from $95.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Jack in the Box presently has a consensus rating of “Hold” and an average price target of $62.00.

Jack in the Box Stock Performance

Jack in the Box stock opened at $47.76 on Thursday. The business’s 50-day simple moving average is $46.28 and its two-hundred day simple moving average is $50.27. The company has a market cap of $913.55 million, a PE ratio of -24.00, a PEG ratio of 1.06 and a beta of 1.93. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20.

Jack in the Box Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.69%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s dividend payout ratio is currently -88.44%.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Jack in the Box

Large investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd acquired a new position in shares of Jack in the Box during the 1st quarter worth approximately $425,000. CANADA LIFE ASSURANCE Co lifted its position in Jack in the Box by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after buying an additional 790 shares in the last quarter. EntryPoint Capital LLC boosted its stake in Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after buying an additional 366 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Jack in the Box by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after buying an additional 644 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Jack in the Box in the 2nd quarter worth $3,311,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

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.