Jack in the Box (NASDAQ:JACK) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Jack in the Box (NASDAQ:JACK – Get Rating) in a research report report published on Thursday morning. The firm issued a hold rating on the restaurant operator’s stock.

Several other equities analysts have also weighed in on JACK. Morgan Stanley lifted their price objective on Jack in the Box from $79.00 to $85.00 and gave the company an equal weight rating in a research note on Thursday, March 2nd. Robert W. Baird boosted their price objective on shares of Jack in the Box from $77.00 to $88.00 in a research note on Thursday, March 2nd. Oppenheimer raised their target price on shares of Jack in the Box from $85.00 to $96.00 in a research note on Thursday, March 2nd. Barclays upped their price target on shares of Jack in the Box from $73.00 to $84.00 and gave the stock an equal weight rating in a research report on Thursday, March 2nd. Finally, UBS Group increased their price target on Jack in the Box from $75.00 to $88.00 and gave the company a neutral rating in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $87.56.

Jack in the Box Stock Performance

Jack in the Box stock traded up $0.22 during trading on Thursday, hitting $81.01. The company’s stock had a trading volume of 615,571 shares, compared to its average volume of 400,714. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.82 and a beta of 1.62. The stock’s fifty day moving average is $78.82 and its 200 day moving average is $77.65. Jack in the Box has a 1-year low of $54.80 and a 1-year high of $94.68.

Jack in the Box (NASDAQ:JACK – Get Rating) last released its earnings results on Wednesday, March 1st. The restaurant operator reported $2.01 EPS for the quarter, beating the consensus estimate of $1.76 by $0.25. The firm had revenue of $527.10 million during the quarter, compared to analyst estimates of $506.98 million. Jack in the Box had a negative return on equity of 16.57% and a net margin of 7.86%. The business’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.97 earnings per share. On average, research analysts anticipate that Jack in the Box will post 5.79 EPS for the current fiscal year.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.17%. Jack in the Box’s dividend payout ratio is presently 28.57%.

Insider Activity

In other news, CEO Darin S. Harris sold 2,034 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $67.06, for a total transaction of $136,400.04. Following the completion of the sale, the chief executive officer now directly owns 33,486 shares in the company, valued at $2,245,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Darin S. Harris sold 2,034 shares of Jack in the Box stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $67.06, for a total value of $136,400.04. Following the completion of the transaction, the chief executive officer now directly owns 33,486 shares in the company, valued at $2,245,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Ryan Lee Ostrom sold 326 shares of Jack in the Box stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $79.89, for a total value of $26,044.14. Following the completion of the transaction, the chief marketing officer now owns 10,536 shares of the company’s stock, valued at $841,721.04. The disclosure for this sale can be found here. Insiders sold 5,907 shares of company stock worth $440,935 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

A number of hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in Jack in the Box by 20.9% in the fourth quarter. Voya Investment Management LLC now owns 16,602 shares of the restaurant operator’s stock worth $1,133,000 after purchasing an additional 2,872 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in Jack in the Box in the fourth quarter worth about $214,000. Point72 Middle East FZE bought a new position in Jack in the Box in the fourth quarter worth about $242,000. Chartwell Investment Partners LLC lifted its holdings in Jack in the Box by 12.0% in the fourth quarter. Chartwell Investment Partners LLC now owns 187,624 shares of the restaurant operator’s stock worth $12,802,000 after acquiring an additional 20,048 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its holdings in Jack in the Box by 9.3% in the fourth quarter. State of Tennessee Treasury Department now owns 23,932 shares of the restaurant operator’s stock worth $1,633,000 after acquiring an additional 2,028 shares during the last quarter. 99.78% of the stock is currently owned by institutional investors and hedge funds.

Jack in the Box Company Profile

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Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.