Barclays Issues Positive Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK) had its target price increased by Barclays from $46.00 to $50.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

A number of other brokerages also recently commented on JACK. UBS Group decreased their target price on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Wedbush cut their target price on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday. Truist Financial reduced their price target on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Loop Capital lowered their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.00.

Jack in the Box Price Performance

NASDAQ:JACK traded down $0.48 during mid-day trading on Thursday, reaching $47.32. 91,416 shares of the company’s stock traded hands, compared to its average volume of 513,653. The company has a 50 day moving average price of $46.28 and a 200-day moving average price of $50.27. The firm has a market capitalization of $905.23 million, a price-to-earnings ratio of -24.00, a PEG ratio of 1.06 and a beta of 1.93. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s dividend payout ratio (DPR) is -88.44%.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of the 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 directly owns 13,201 shares of the company’s stock, 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 link. Insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

A number of hedge funds have recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in shares of Jack in the Box during the 2nd quarter valued at about $3,311,000. Aigen Investment Management LP grew its position in Jack in the Box by 238.5% during the third 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 period. Access Investment Management LLC purchased a new stake in Jack in the Box during the third quarter valued at approximately $1,475,000. Allspring Global Investments Holdings LLC increased its holdings in Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after buying an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Jack in the Box by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after acquiring an additional 18,874 shares during the period. 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.