Jack in the Box Inc. (JACK) to Issue Quarterly Dividend of $0.44 on December 30th

Jack in the Box Inc. (NASDAQ:JACK) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Thursday, December 12th will be given a dividend of 0.44 per share by the restaurant operator on Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, December 12th.

Jack in the Box has raised its dividend payment by an average of 13.6% annually over the last three years. Jack in the Box has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Jack in the Box to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 25.1%.

Jack in the Box Stock Down 0.6 %

JACK opened at $47.50 on Friday. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20. The company has a fifty day simple moving average of $46.34 and a 200 day simple moving average of $50.21.

Analyst Ratings Changes

Several research firms recently commented on JACK. Wedbush cut their price target on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Bank of America increased their target price on Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barclays lifted their price target on shares of Jack in the Box from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank of Canada dropped their target price on shares of Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group decreased their price target on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.38.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of the 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 transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% 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.