Jack in the Box (NASDAQ:JACK) PT Lowered to $57.00 at TD Cowen

Jack in the Box (NASDAQ:JACK) had its target price reduced by TD Cowen from $59.00 to $57.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a hold rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on JACK. Wedbush restated an outperform rating and issued a $68.00 price objective on shares of Jack in the Box in a research note on Tuesday, July 30th. Oppenheimer reduced their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an outperform rating for the company in a research note on Wednesday. Royal Bank of Canada restated an outperform rating and issued a $75.00 price objective on shares of Jack in the Box in a research note on Friday, June 7th. Loop Capital cut their target price on shares of Jack in the Box from $118.00 to $112.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Finally, Bank of America cut their target price on shares of Jack in the Box from $83.00 to $79.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Jack in the Box has a consensus rating of Hold and a consensus target price of $71.61.

Jack in the Box Trading Up 1.8 %

NASDAQ JACK traded up $0.97 during trading on Wednesday, reaching $53.53. The company’s stock had a trading volume of 445,378 shares, compared to its average volume of 490,386. The business has a 50-day moving average price of $53.26 and a 200-day moving average price of $61.40. Jack in the Box has a 1-year low of $46.10 and a 1-year high of $88.36. The stock has a market capitalization of $1.04 billion, a PE ratio of 9.42, a PEG ratio of 0.76 and a beta of 1.91.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.14. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. 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 company earned $1.45 earnings per share. Jack in the Box’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, analysts expect that Jack in the Box will post 6.29 earnings per share for the current year.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is presently 30.99%.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total value of $30,880.72. Following the sale, the chief executive officer now owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 800 shares of company stock valued at $41,514 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jack in the Box

Several large investors have recently made changes to their positions in JACK. International Assets Investment Management LLC bought a new stake in shares of Jack in the Box in the 4th quarter worth about $900,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Jack in the Box by 11.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 499,987 shares of the restaurant operator’s stock worth $40,814,000 after purchasing an additional 53,294 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Jack in the Box in the 4th quarter worth about $824,000. Phocas Financial Corp. grew its holdings in shares of Jack in the Box by 1.8% in the 4th quarter. Phocas Financial Corp. now owns 76,898 shares of the restaurant operator’s stock worth $6,277,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Jack in the Box by 3.5% in the 4th quarter. Victory Capital Management Inc. now owns 137,037 shares of the restaurant operator’s stock worth $11,186,000 after purchasing an additional 4,635 shares during the last quarter. 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.