Jack in the Box Inc. (NASDAQ:JACK) Sees Large Increase in Short Interest

Jack in the Box Inc. (NASDAQ:JACK) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,930,000 shares, an increase of 24.5% from the August 15th total of 1,550,000 shares. Currently, 10.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 551,300 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on JACK. Truist Financial decreased their price target 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 decreased their target price on shares of Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer decreased their target price on shares of 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, TD Cowen reaffirmed a “hold” rating and set a $57.00 price target on shares of Jack in the Box in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jack in the Box currently has a consensus rating of “Hold” and an average target price of $69.35.

Jack in the Box Trading Down 3.4 %

NASDAQ:JACK opened at $42.91 on Tuesday. The stock has a market capitalization of $832.02 million, a price-to-earnings ratio of 7.55, a PEG ratio of 0.67 and a beta of 1.95. The firm has a fifty day simple moving average of $51.45 and a two-hundred day simple moving average of $56.41. Jack in the Box has a 12 month low of $40.84 and a 12 month 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 for the quarter, beating analysts’ consensus estimates of $1.51 by $0.14. The company had revenue of $369.17 million for the quarter, compared to analyst estimates of $371.81 million. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.45 earnings per share. Equities analysts predict that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, August 30th. Jack in the Box’s dividend payout ratio is 30.99%.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The disclosure for this sale can be found here. Insiders sold a total of 1,348 shares of company stock valued at $67,476 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC lifted its holdings in shares of Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 366 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Jack in the Box in the 1st quarter worth approximately $97,000. Quadrant Capital Group LLC raised its holdings in Jack in the Box by 21.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock valued at $126,000 after buying an additional 276 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after buying an additional 179 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Jack in the Box during the 1st quarter valued at $260,000. Hedge funds and other 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.