Jack in the Box (NASDAQ:JACK) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Jack in the Box (NASDAQ:JACK) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research analysts have also commented on the company. Bank of America lifted their price target on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada cut their target price on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday. Wedbush lowered their price target on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday. Oppenheimer reiterated an “outperform” rating and set a $60.00 price objective on shares of Jack in the Box in a research report on Thursday. Finally, Truist Financial lowered their target price on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.00.

Jack in the Box Stock Up 4.7 %

JACK stock opened at $47.76 on Thursday. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20. The firm has a market capitalization of $913.55 million, a P/E ratio of -24.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. The company has a fifty day simple moving average of $46.28 and a two-hundred day simple moving average of $50.27.

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be issued a $0.44 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.76 annualized dividend and a dividend yield of 3.69%. Jack in the Box’s payout ratio is currently -88.44%.

Insider Buying and Selling

In other news, CFO Brian M. Scott sold 696 shares of the business’s 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 completion of the sale, the chief financial officer now owns 13,201 shares in the company, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of Jack in the Box in the 3rd quarter worth approximately $41,000. EntryPoint Capital LLC grew its holdings in Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Jack in the Box by 172.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after purchasing an additional 1,354 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Jack in the Box in the 3rd quarter worth $185,000. Finally, MML Investors Services LLC grew its stake 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 last quarter. Hedge funds and other institutional investors 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.