Jack in the Box (NASDAQ:JACK) PT Lowered to $50.00 at UBS Group

Jack in the Box (NASDAQ:JACK) had its price objective cut by UBS Group from $55.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other brokerages have also commented on JACK. Oppenheimer decreased their price objective on Jack in the Box from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Wedbush dropped their price objective on Jack in the Box from $68.00 to $60.00 and set an outperform rating for the company in a report on Wednesday, August 7th. Truist Financial dropped their price target on shares of Jack in the Box from $83.00 to $70.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Bank of America lowered their target price on shares of Jack in the Box from $77.00 to $72.00 and set a buy rating for the company in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Jack in the Box from $59.00 to $56.00 and set a hold rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Jack in the Box has a consensus rating of Hold and a consensus price target of $68.63.

Jack in the Box Stock Performance

Shares of JACK opened at $43.76 on Friday. The company has a market cap of $848.51 million, a price-to-earnings ratio of 7.70, a PEG ratio of 0.70 and a beta of 1.94. The stock has a fifty day moving average price of $48.88 and a two-hundred day moving average price of $53.47. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $369.17 million during the quarter, compared to analysts’ expectations of $371.81 million. During the same period in the previous year, the business posted $1.45 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts predict that Jack in the Box will post 6.22 EPS for the current fiscal year.

Jack in the Box Announces Dividend

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 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is presently 30.99%.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its position in shares of Jack in the Box by 261.5% in the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after buying an additional 403,423 shares during the last quarter. Clearline Capital LP boosted its position in shares of Jack in the Box by 136.7% during the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after acquiring an additional 144,631 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Jack in the Box in the 4th quarter valued at $11,424,000. Allspring Global Investments Holdings LLC raised its stake in Jack in the Box by 26.2% during the second 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 in the last quarter. Finally, Squarepoint Ops LLC increased its position in Jack in the Box by 296.5% during the 2nd quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock worth $6,884,000 after purchasing an additional 101,064 shares in the last quarter. 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.