Jack in the Box Inc. Plans Quarterly Dividend of $0.44 (NASDAQ:JACK)

Jack in the Box Inc. (NASDAQ:JACK) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Thursday, December 12th will be given a dividend of 0.44 per share by the restaurant operator on Monday, December 30th. This represents a $1.76 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, December 12th.

Jack in the Box has increased its dividend by an average of 13.6% annually over the last three years. Jack in the Box has a payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Jack in the Box to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 25.1%.

Jack in the Box Stock Down 0.6 %

NASDAQ JACK opened at $47.50 on Friday. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20. The business’s fifty day moving average is $46.34 and its two-hundred day moving average is $50.21.

Insider Activity at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group decreased their price target on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research report on Monday, October 21st. Bank of America lifted their target price on shares of Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Guggenheim reduced their price target on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $60.00 price objective on shares of Jack in the Box in a research report on Thursday. Finally, Piper Sandler reduced their target price on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.38.

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.