Jack in the Box (NASDAQ:JACK) Stock Price Down 3.6% – Here’s What Happened

Shares of Jack in the Box Inc. (NASDAQ:JACK) were down 3.6% during mid-day trading on Thursday . The company traded as low as $38.16 and last traded at $38.16. Approximately 33,946 shares changed hands 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JACK shares. Piper Sandler reduced their price objective on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Bank of America increased their target price on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial reduced their target price on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Loop Capital reduced their target price on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Guggenheim reduced their target price on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.76.

Jack in the Box Stock Performance

The company’s 50 day simple moving average is $44.08 and its 200-day simple moving average is $47.44. The firm has a market capitalization of $741.53 million, a PE ratio of -20.19, a PEG ratio of 1.22 and a beta of 1.94.

Jack in the Box Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Thursday, December 12th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.47%. Jack in the Box’s dividend payout ratio (DPR) is currently -90.26%.

Insider Activity

In other news, SVP Sarah L. Super sold 1,688 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the transaction, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. The trade was a 9.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 2,343 shares of company stock worth $100,601 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Jack in the Box by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after acquiring an additional 358 shares in the last quarter. GAMMA Investing LLC grew its position in Jack in the Box by 229.7% in the fourth quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 735 shares in the last quarter. MML Investors Services LLC grew its position in Jack in the Box by 20.3% in the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 819 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Jack in the Box in the third quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Jack in the Box by 172.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock worth $100,000 after acquiring an additional 1,354 shares in the last quarter. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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.