Short Interest in Jack in the Box Inc. (NASDAQ:JACK) Grows By 18.1%

Jack in the Box Inc. (NASDAQ:JACK) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,370,000 shares, a growth of 18.1% from the May 31st total of 1,160,000 shares. Approximately 7.2% of the shares of the company are sold short. Based on an average daily trading volume, of 573,800 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

Several brokerages recently issued reports on JACK. Morgan Stanley dropped their price target on Jack in the Box from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Loop Capital cut their price objective on shares of Jack in the Box from $118.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Bank of America lowered their target price on shares of Jack in the Box from $87.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Jack in the Box in a report on Friday, June 7th. Finally, Wedbush reduced their price target on Jack in the Box from $78.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.94.

Jack in the Box Stock Down 1.0 %

Jack in the Box stock opened at $50.94 on Friday. The firm has a fifty day moving average of $54.41 and a 200-day moving average of $67.17. Jack in the Box has a 52-week low of $49.33 and a 52-week high of $99.56. The firm has a market capitalization of $987.73 million, a P/E ratio of 8.97, a PEG ratio of 0.72 and a beta of 1.88.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Tuesday, May 14th. The restaurant operator reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The company had revenue of $365.40 million for the quarter, compared to analysts’ expectations of $369.53 million. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. On average, research analysts expect that Jack in the Box will post 6.31 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.46%. Jack in the Box’s payout ratio is currently 30.99%.

Insider Buying and Selling

In other news, CEO Darin S. Harris sold 598 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the transaction, the chief executive officer now directly owns 90,887 shares in the company, valued at $4,693,404.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 800 shares of company stock worth $41,514 in the last quarter. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Jack in the Box

A number of large investors have recently added to or reduced their stakes in JACK. Price T Rowe Associates Inc. MD increased its position in shares of Jack in the Box by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock worth $1,090,000 after acquiring an additional 644 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after purchasing an additional 366 shares in the last quarter. MQS Management LLC purchased a new position in shares of Jack in the Box during the 1st quarter valued at approximately $260,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Jack in the Box by 4.5% in the first 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. Finally, UniSuper Management Pty Ltd acquired a new stake in Jack in the Box in the first quarter valued at $425,000. 99.79% of the stock is owned by institutional investors and hedge funds.

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.