Wedbush Cuts Jack in the Box (NASDAQ:JACK) Price Target to $50.00

Jack in the Box (NASDAQ:JACK) had its target price reduced by Wedbush from $60.00 to $50.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on JACK. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Barclays reduced their price objective on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Jack in the Box presently has a consensus rating of “Hold” and an average price target of $62.81.

Jack in the Box Trading Up 4.1 %

Shares of Jack in the Box stock opened at $46.61 on Monday. The firm has a fifty day simple moving average of $46.04 and a 200-day simple moving average of $50.38. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20. The stock has a market capitalization of $891.65 million, a price-to-earnings ratio of -23.42, a PEG ratio of 0.70 and a beta of 1.93.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. The trade was a 5.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC grew its holdings in shares of Jack in the Box by 73.2% in the 1st 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. DekaBank Deutsche Girozentrale bought a new stake in shares of Jack in the Box in the 3rd quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Jack in the Box by 172.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock worth $100,000 after purchasing an additional 1,354 shares during the last quarter. MQS Management LLC bought a new stake in shares of Jack in the Box in the 1st quarter worth about $260,000. Finally, SG Americas Securities LLC bought a new stake in shares of Jack in the Box in the 3rd quarter worth about $185,000. 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.