Jack in the Box (NASDAQ:JACK) Lowered to Neutral Rating by Northcoast Research

Northcoast Research lowered shares of Jack in the Box (NASDAQ:JACK) from a buy rating to a neutral rating in a report released on Thursday morning, MarketBeat reports.

A number of other equities analysts have also issued reports on the company. Truist Financial reduced their target price on Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Loop Capital cut their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays reduced their price objective on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Finally, Wedbush lowered their target price on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.44.

Jack in the Box Price Performance

NASDAQ:JACK traded down $1.64 during trading hours on Thursday, hitting $44.77. 623,316 shares of the company were exchanged, compared to its average volume of 506,163. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20. The stock has a market capitalization of $856.27 million, a price-to-earnings ratio of -23.27, a PEG ratio of 0.70 and a beta of 1.93. The company’s 50 day moving average price is $46.03 and its 200-day moving average price is $50.61.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.93%. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

Insider Transactions at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in shares of Jack in the Box by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after purchasing an additional 358 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Jack in the Box by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after purchasing an additional 503 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Jack in the Box by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after purchasing an additional 644 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in Jack in the Box by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after buying an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

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.