Emerald Mutual Fund Advisers Trust Sells 48,785 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Emerald Mutual Fund Advisers Trust reduced its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 23.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,776 shares of the restaurant operator’s stock after selling 48,785 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Jack in the Box were worth $8,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capstone Investment Advisors LLC purchased a new stake in shares of Jack in the Box during the 4th quarter valued at $1,313,000. GSA Capital Partners LLP lifted its stake in Jack in the Box by 777.7% during the fourth quarter. GSA Capital Partners LLP now owns 33,809 shares of the restaurant operator’s stock worth $2,760,000 after purchasing an additional 29,957 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Jack in the Box by 840.9% in the 4th quarter. Trexquant Investment LP now owns 129,763 shares of the restaurant operator’s stock worth $10,593,000 after purchasing an additional 115,972 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Jack in the Box by 21.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock valued at $9,387,000 after purchasing an additional 23,770 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Jack in the Box during the 2nd quarter valued at about $3,311,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Stock Performance

NASDAQ JACK opened at $45.84 on Friday. The stock has a market cap of $888.84 million, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 0.77 and a beta of 1.95. Jack in the Box Inc. has a fifty-two week low of $45.24 and a fifty-two week high of $86.20. The stock has a 50 day simple moving average of $52.11 and a two-hundred day simple moving average of $57.72.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.14. The business had revenue of $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share. Sell-side analysts predict that Jack in the Box Inc. will post 6.23 earnings per share for the current year.

Jack in the Box Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, August 30th. Jack in the Box’s dividend payout ratio is currently 30.99%.

Insiders Place Their Bets

In other news, CEO Darin S. Harris sold 598 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Darin S. Harris sold 598 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total value of $30,880.72. Following the sale, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian M. Scott sold 696 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. The disclosure for this sale can be found here. Insiders sold 1,348 shares of company stock worth $67,476 over the last three months. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America cut their target price on Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, August 19th. The Goldman Sachs Group began coverage on shares of Jack in the Box in a report on Thursday, June 13th. They set a “sell” rating and a $55.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Truist Financial reduced 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. Finally, Royal Bank of Canada lowered their target price on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.35.

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.