Jack in the Box (NASDAQ:JACK) Shares Down 3.6% – Here’s Why

Jack in the Box Inc. (NASDAQ:JACK) dropped 3.6% during trading on Thursday . The stock traded as low as $38.16 and last traded at $38.16. Approximately 33,946 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 565,275 shares. The stock had previously closed at $39.58.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JACK. Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of Jack in the Box in a research report on Thursday. Truist Financial decreased their price target on Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. TD Cowen reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Jack in the Box in a research note on Thursday, November 21st. StockNews.com downgraded Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Bank of America upped their target price on Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Jack in the Box presently has a consensus rating of “Hold” and a consensus price target of $57.76.

Jack in the Box Price Performance

The stock’s 50-day moving average is $43.72 and its 200-day moving average is $47.31. The stock has a market cap of $727.97 million, a price-to-earnings ratio of -19.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.94.

Jack in the Box Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Thursday, December 12th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Thursday, December 12th. Jack in the Box’s dividend payout ratio (DPR) is -90.26%.

Insider Activity at Jack in the Box

In related news, SVP Sarah L. Super sold 1,688 shares of Jack in the Box stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $40.52, for a total value of $68,397.76. Following the transaction, the senior vice president now owns 16,815 shares in the company, valued at approximately $681,343.80. This trade represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 2,343 shares of company stock worth $100,601. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jack in the Box

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings 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 during the period. Charles Schwab Investment Management Inc. grew its stake in Jack in the Box by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock worth $18,081,000 after buying an additional 8,038 shares during the period. Clearline Capital LP grew its stake in Jack in the Box by 4.1% during the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after buying an additional 10,304 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of Jack in the Box in the third quarter worth $11,802,000. Finally, Earnest Partners LLC raised its stake in shares of Jack in the Box by 10.2% in the 2nd quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock valued at $12,266,000 after acquiring an additional 22,226 shares during the period. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

Jack in the Box Company Profile

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.