Jack in the Box’s (JACK) Hold Rating Reiterated at TD Cowen

TD Cowen reiterated their hold rating on shares of Jack in the Box (NASDAQ:JACK) in a research report report published on Thursday,Benzinga reports. TD Cowen currently has a $50.00 price target on the restaurant operator’s stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Jack in the Box in a research report on Monday, November 4th. UBS Group decreased their target price on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. The Goldman Sachs Group lowered their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a report on Monday, October 21st. Wedbush cut their price target on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, Guggenheim lowered their price objective on Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.38.

Jack in the Box Stock Performance

Shares of NASDAQ:JACK opened at $47.50 on Thursday. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20. The business’s 50 day simple moving average is $46.34 and its two-hundred day simple moving average is $50.18. The firm has a market cap of $908.49 million, a P/E ratio of -24.36, a PEG ratio of 1.49 and a beta of 1.93.

Jack in the Box Announces Dividend

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

Insider Buying and Selling

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was 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. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JACK. Manning & Napier Advisors LLC purchased a new stake in Jack in the Box during the second quarter valued at about $3,311,000. Aigen Investment Management LP lifted its stake in shares of Jack in the Box by 238.5% during the 3rd 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 in the last quarter. Access Investment Management LLC bought a new position in Jack in the Box in the 3rd quarter worth approximately $1,475,000. Allspring Global Investments Holdings LLC grew its stake in Jack in the Box by 26.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after buying an additional 130,214 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Jack in the Box by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after acquiring an additional 18,874 shares during the period. 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.