Jack in the Box (NASDAQ:JACK) Price Target Raised to $50.00

Jack in the Box (NASDAQ:JACK) had its price target hoisted by Barclays from $46.00 to $50.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently weighed in on JACK. Truist Financial cut their price objective on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler cut their target price on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their price objective on shares of Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday. TD Cowen reissued a “hold” rating and set a $50.00 price objective on shares of Jack in the Box in a research note on Thursday. Finally, Oppenheimer cut their target price on Jack in the Box from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.38.

Jack in the Box Price Performance

JACK opened at $47.50 on Thursday. The stock’s 50 day moving average price is $46.34 and its 200 day moving average price is $50.18. The stock has a market cap of $908.49 million, a P/E ratio of -24.36, a P/E/G ratio of 1.49 and a beta of 1.93. Jack in the Box has a 12 month low of $40.84 and a 12 month high of $86.20.

Jack in the Box Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s payout ratio is presently -90.26%.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction on 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 represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

A number of institutional investors have recently bought and sold shares of JACK. Allspring Global Investments Holdings LLC raised its stake in shares of Jack in the Box by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after purchasing an additional 85,461 shares in the last quarter. Victory Capital Management Inc. raised its position in Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after acquiring an additional 403,423 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Jack in the Box by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock valued at $18,081,000 after acquiring an additional 8,038 shares during the last quarter. Clearline Capital LP grew its position in Jack in the Box by 4.1% in the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after acquiring an additional 10,304 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new position in shares of Jack in the Box during the 3rd quarter worth $11,802,000. Institutional investors and hedge funds 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.