Jack in the Box (NASDAQ:JACK) Price Target Cut to $55.00

Jack in the Box (NASDAQ:JACK) had its price target reduced by UBS Group from $60.00 to $55.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

JACK has been the subject of a number of other reports. TD Cowen cut their price target on Jack in the Box from $59.00 to $57.00 and set a hold rating for the company in a report on Wednesday. Royal Bank of Canada decreased their price target on Jack in the Box from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Wednesday. Bank of America lowered their price target on shares of Jack in the Box from $83.00 to $79.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Barclays reduced their price objective on shares of Jack in the Box from $80.00 to $60.00 and set an equal weight rating for the company in a research note on Wednesday, May 15th. Finally, Oppenheimer lowered their target price on shares of Jack in the Box from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $69.76.

Jack in the Box Stock Performance

NASDAQ:JACK traded up $0.97 during trading hours on Wednesday, reaching $53.53. The stock had a trading volume of 445,378 shares, compared to its average volume of 490,386. Jack in the Box has a 12-month low of $46.10 and a 12-month high of $88.36. The stock has a 50 day simple moving average of $53.26 and a 200 day simple moving average of $61.40. The stock has a market cap of $1.04 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.91.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, beating the consensus estimate of $1.51 by $0.14. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The business had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. During the same period in the prior year, the firm earned $1.45 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that Jack in the Box will post 6.29 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 30th will be paid a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.29%. Jack in the Box’s dividend payout ratio (DPR) is 30.99%.

Insider Buying and Selling

In related news, CEO Darin S. Harris sold 598 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the completion of the sale, the chief executive officer now directly owns 90,887 shares in the company, valued at approximately $4,693,404.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 800 shares of company stock worth $41,514 in the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its position in shares of Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares during the period. Headlands Technologies LLC bought a new position in Jack in the Box during the 1st quarter valued at approximately $97,000. Quadrant Capital Group LLC raised its position in Jack in the Box by 21.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock valued at $126,000 after purchasing an additional 276 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Jack in the Box by 9.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after buying an additional 179 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Jack in the Box in the 1st quarter worth approximately $260,000. 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.