Jack in the Box (NASDAQ:JACK) Trading Down 5.5% – Should You Sell?

Jack in the Box Inc. (NASDAQ:JACK)’s stock price was down 5.5% during trading on Monday . The stock traded as low as $42.72 and last traded at $43.01. Approximately 312,156 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 514,230 shares. The stock had previously closed at $45.50.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JACK. TD Cowen reiterated a “hold” rating and set a $50.00 target price on shares of Jack in the Box in a research report on Thursday, November 21st. Truist Financial decreased their price target on Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer reissued an “outperform” rating and issued a $60.00 price objective on shares of Jack in the Box in a research note on Thursday, November 21st. Royal Bank of Canada cut their price target on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Barclays upped their target price on shares of Jack in the Box from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.88.

Jack in the Box Price Performance

The stock has a 50-day moving average price of $47.16 and a 200 day moving average price of $49.35. The company has a market cap of $754.93 million, a price-to-earnings ratio of -20.56, a price-to-earnings-growth ratio of 1.59 and a beta of 1.92.

Jack in the Box Dividend Announcement

The business 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 dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s dividend payout ratio is -90.26%.

Institutional Trading of Jack in the Box

A number of institutional investors have recently modified their holdings of JACK. Aigen Investment Management LP raised its position in Jack in the Box by 238.5% in the 3rd quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock valued at $1,018,000 after buying an additional 15,409 shares during the last quarter. Biglari Sardar grew its stake in shares of Jack in the Box by 14.2% during the 3rd quarter. Biglari Sardar now owns 96,717 shares of the restaurant operator’s stock worth $4,501,000 after acquiring an additional 12,000 shares in the last quarter. Access Investment Management LLC acquired a new stake in shares of Jack in the Box in the third quarter valued at approximately $1,475,000. Barclays PLC raised its holdings in shares of Jack in the Box by 70.9% in the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock valued at $10,060,000 after purchasing an additional 89,649 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Jack in the Box by 26.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after purchasing an additional 130,214 shares in the last quarter. 99.79% of the stock is currently owned by 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.