Jack in the Box (NASDAQ:JACK) Price Target Cut to $60.00 by Analysts at Guggenheim

Jack in the Box (NASDAQ:JACK) had its price objective cut by Guggenheim from $95.00 to $60.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also commented on JACK. The Goldman Sachs Group cut their price target on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. Piper Sandler reduced their price target on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. StockNews.com cut Jack in the Box from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group dropped their price target on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and an average target price of $62.65.

Jack in the Box Trading Down 0.9 %

Shares of JACK opened at $45.60 on Wednesday. The company has a 50-day moving average of $46.18 and a 200 day moving average of $50.28. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20.

Jack in the Box Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were given a dividend of $0.44 per share. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.86%. Jack in the Box’s dividend payout ratio is presently -88.44%.

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $642,360.66. This represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Hedge funds have recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd purchased a new position in Jack in the Box during the 1st quarter valued at about $425,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Jack in the Box by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after purchasing an additional 790 shares in the last quarter. MQS Management LLC acquired a new stake in Jack in the Box in the 1st quarter valued at approximately $260,000. EntryPoint Capital LLC boosted its stake in shares of Jack in the Box by 73.2% during 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 period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Jack in the Box by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock worth $1,090,000 after buying an additional 644 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.