Jack in the Box’s (JACK) “Hold” Rating Reaffirmed at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Jack in the Box (NASDAQ:JACK) in a report released on Thursday,Benzinga reports. The firm currently has a $50.00 price target on the restaurant operator’s stock.

JACK has been the subject of several other reports. Wedbush cut their target price on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday. Piper Sandler reduced their price objective on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Bank of America boosted their target price 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. Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group decreased their price target on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Jack in the Box presently has an average rating of “Hold” and a consensus target price of $62.00.

Jack in the Box Stock Performance

Jack in the Box stock traded down $0.48 during mid-day trading on Thursday, hitting $47.32. 91,416 shares of the company traded hands, compared to its average volume of 513,653. The stock has a fifty day moving average price of $46.28 and a 200-day moving average price of $50.27. The stock has a market cap of $905.23 million, a price-to-earnings ratio of -24.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. Jack in the Box has a one year low of $40.84 and a one year 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. Stockholders of record on Thursday, December 12th will be given a $0.44 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.72%. Jack in the Box’s dividend payout ratio is currently -88.44%.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box 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 in the company, valued at $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jack in the Box

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Jack in the Box by 13.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock valued at $33,156,000 after buying an additional 85,461 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Jack in the Box by 261.5% during the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after acquiring an additional 403,423 shares during the period. Charles Schwab Investment Management Inc. grew 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 worth $18,081,000 after acquiring an additional 8,038 shares during the period. Clearline Capital LP lifted its stake in shares of Jack in the Box by 4.1% in the 3rd quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock valued at $12,134,000 after purchasing an additional 10,304 shares during the period. Finally, Invenomic Capital Management LP bought a new stake in shares of Jack in the Box during the third quarter valued at approximately $11,802,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

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.