Jack in the Box (NASDAQ:JACK) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Jack in the Box (NASDAQ:JACK) in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $55.00 target price on the restaurant operator’s stock.

Other research analysts have also recently issued reports about the stock. Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Stifel Nicolaus dropped their price objective on Jack in the Box from $52.00 to $40.00 and set a “hold” rating for the company in a report on Friday, January 10th. Barclays upped their target price on Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Oppenheimer decreased their price target on Jack in the Box from $60.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Guggenheim cut their price objective 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.76.

Jack in the Box Price Performance

Shares of Jack in the Box stock opened at $39.52 on Thursday. Jack in the Box has a 52-week low of $36.36 and a 52-week high of $81.01. The firm has a 50-day moving average of $44.08 and a 200-day moving average of $47.44.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Thursday, December 12th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a yield of 4.45%. Jack in the Box’s payout ratio is presently -90.26%.

Insider Activity

In related news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the completion of the transaction, the senior vice president now owns 16,815 shares in the company, valued at $681,343.80. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 2,343 shares of company stock valued at $100,601. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors and hedge funds have recently added to or reduced their stakes in JACK. The Manufacturers Life Insurance Company lifted its holdings in shares of Jack in the Box by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after purchasing an additional 358 shares during the period. GAMMA Investing LLC raised its position in Jack in the Box by 229.7% during the 4th quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 735 shares during the last quarter. MML Investors Services LLC lifted its holdings in Jack in the Box by 20.3% during the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after buying an additional 819 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Jack in the Box in the 3rd quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of 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 valued at $100,000 after buying an additional 1,354 shares during the period. 99.79% of the stock is currently owned by institutional investors and hedge funds.

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.