Clearline Capital LP Buys 10,304 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Clearline Capital LP grew its stake in Jack in the Box Inc. (NASDAQ:JACK) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,730 shares of the restaurant operator’s stock after acquiring an additional 10,304 shares during the quarter. Clearline Capital LP owned about 1.36% of Jack in the Box worth $12,134,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JACK. Allspring Global Investments Holdings LLC raised its stake in shares of Jack in the Box by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after acquiring an additional 85,461 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after purchasing an additional 403,423 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Jack in the Box by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock valued at $18,081,000 after purchasing an additional 8,038 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Jack in the Box by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after purchasing an additional 18,874 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in Jack in the Box by 10.2% during the 2nd quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock worth $12,266,000 after buying an additional 22,226 shares during the last quarter. 99.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Loop Capital reduced their price objective on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, October 14th. 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. Bank of America lifted their price objective on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Wedbush lowered their target price on shares of 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. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.38.

Jack in the Box Stock Up 4.2 %

Jack in the Box stock opened at $48.85 on Monday. The company has a fifty day simple moving average of $46.68 and a 200-day simple moving average of $49.97. The firm has a market capitalization of $919.89 million, a price-to-earnings ratio of -25.05, a PEG ratio of 1.60 and a beta of 1.93. Jack in the Box Inc. has a 52-week low of $40.84 and a 52-week high of $86.20.

Jack in the Box Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.60%. Jack in the Box’s payout ratio is -90.26%.

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.