Texas Permanent School Fund Corp Cuts Stock Position in Jack in the Box Inc. (NASDAQ:JACK)

Texas Permanent School Fund Corp cut its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 12.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,637 shares of the restaurant operator’s stock after selling 2,004 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of Jack in the Box worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position 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 purchasing an additional 130,214 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after acquiring an additional 403,423 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 18,874 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Jack in the Box in the fourth quarter worth about $11,424,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Jack in the Box by 21.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after purchasing an additional 23,770 shares during the last quarter. 99.79% of the stock is owned by institutional investors.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the sale, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Darin S. Harris sold 598 shares of Jack in the Box stock in a transaction 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 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 through this hyperlink. Also, CFO Brian M. Scott sold 696 shares of Jack in the Box 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 sale, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. The disclosure for this sale can be found here. In the last three months, insiders sold 1,348 shares of company stock valued at $67,476. Insiders own 1.60% of the company’s stock.

Jack in the Box Stock Down 2.2 %

Shares of JACK stock opened at $44.16 on Friday. Jack in the Box Inc. has a 52 week low of $40.84 and a 52 week high of $86.20. The stock has a market capitalization of $856.26 million, a PE ratio of 7.77, a P/E/G ratio of 0.67 and a beta of 1.95. The firm has a 50 day moving average of $51.11 and a two-hundred day moving average of $55.69.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.14. The business had revenue of $369.17 million during 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 company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. Analysts expect that Jack in the Box Inc. will post 6.22 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were given 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 dividend yield of 3.99%. Jack in the Box’s dividend payout ratio (DPR) is currently 30.99%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America dropped 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 report on Monday, August 19th. Morgan Stanley lowered their target price on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. TD Cowen restated a “hold” rating and set a $57.00 target price on shares of Jack in the Box in a report on Thursday, September 12th. UBS Group reduced their price target on Jack in the Box from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler cut their target price on Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report 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 stock. According to data from MarketBeat, Jack in the Box has an average rating of “Hold” and a consensus target price of $69.35.

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.