Phocas Financial Corp. Sells 4,267 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Phocas Financial Corp. reduced its stake in shares of Jack in the Box Inc. (NASDAQ:JACK) by 5.8% in the 3rd quarter, Holdings Channel reports. The firm owned 69,204 shares of the restaurant operator’s stock after selling 4,267 shares during the quarter. Phocas Financial Corp.’s holdings in Jack in the Box were worth $3,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JACK. Quest Partners LLC lifted its position in shares of Jack in the Box by 32.6% in the 3rd quarter. Quest Partners LLC now owns 18,697 shares of the restaurant operator’s stock worth $870,000 after purchasing an additional 4,602 shares during the period. Aigen Investment Management LP lifted its holdings in Jack in the Box by 238.5% in the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock valued at $1,018,000 after buying an additional 15,409 shares during the period. GSA Capital Partners LLP bought a new stake in Jack in the Box during the third quarter valued at $229,000. Access Investment Management LLC acquired a new stake in Jack in the Box during the 3rd quarter worth about $1,475,000. Finally, Emerald Advisers LLC raised its position in shares of Jack in the Box by 2.9% in the 3rd quarter. Emerald Advisers LLC now owns 200,067 shares of the restaurant operator’s stock worth $9,311,000 after acquiring an additional 5,582 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Jack in the Box Stock Performance

Jack in the Box stock opened at $46.03 on Wednesday. Jack in the Box Inc. has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The stock has a market cap of $880.37 million, a P/E ratio of -23.13, a PEG ratio of 0.70 and a beta of 1.93. The firm’s fifty day moving average price is $46.12 and its 200-day moving average price is $50.32.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s payout ratio is -88.44%.

Analyst Upgrades and Downgrades

JACK has been the topic of a number of research analyst reports. Barclays cut their price target on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 22nd. Loop Capital reduced their price target on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a report on Monday, October 14th. Oppenheimer decreased their price target on shares of Jack in the Box from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Piper Sandler cut their price objective on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.81.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of the 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 transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at approximately $642,360.66. This represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% 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.