Jack in the Box (NASDAQ:JACK) Given New $60.00 Price Target at Guggenheim

Jack in the Box (NASDAQ:JACK) had its price target trimmed by Guggenheim from $95.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

JACK has been the subject of several other reports. Bank of America increased their target price on Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial decreased their price objective on Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Wedbush cut their price objective on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Monday. Northcoast Research lowered Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Oppenheimer dropped their price target on Jack in the Box from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.65.

Jack in the Box Stock Down 0.9 %

Jack in the Box stock opened at $45.60 on Wednesday. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20. The stock has a 50-day simple moving average of $46.18 and a 200 day simple moving average of $50.28.

Jack in the Box Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio is presently -88.44%.

Insider Buying and Selling

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. This represents a 5.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Several institutional investors and hedge funds have recently bought and sold shares of JACK. Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 85,461 shares in the last quarter. Victory Capital Management Inc. grew its holdings in 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 buying an additional 403,423 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Jack in the Box by 2.1% in 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 period. Clearline Capital LP lifted its holdings in Jack in the Box by 4.1% during the 3rd quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after purchasing an additional 10,304 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Jack in the Box during the 3rd quarter valued at about $11,802,000. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Company Profile

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.