State of Alaska Department of Revenue Reduces Position in Jack in the Box Inc. (NASDAQ:JACK)

State of Alaska Department of Revenue decreased its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,915 shares of the restaurant operator’s stock after selling 470 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Jack in the Box worth $507,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale purchased a new stake in Jack in the Box during the 3rd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC increased its stake in shares of Jack in the Box by 13.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after buying an additional 85,461 shares during the last quarter. Selway Asset Management bought a new stake in shares of Jack in the Box in the third quarter worth $228,000. Inspire Investing LLC raised its holdings in Jack in the Box by 26.8% in the third quarter. Inspire Investing LLC now owns 9,695 shares of the restaurant operator’s stock valued at $451,000 after acquiring an additional 2,048 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Jack in the Box during the 3rd quarter worth $185,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Trading Down 3.1 %

Shares of JACK opened at $47.33 on Friday. The firm has a 50-day moving average price of $46.10 and a 200 day moving average price of $50.95. Jack in the Box Inc. has a 52-week low of $40.84 and a 52-week high of $86.20.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.14. The business had revenue of $369.17 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. As a group, sell-side analysts predict that Jack in the Box Inc. will post 6.19 EPS for the current year.

Jack in the Box Dividend Announcement

The company also recently declared 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. This represents a $1.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JACK. Bank of America upped their target price on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Oppenheimer reduced their target price on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. UBS Group lowered their price target 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 reduced their price objective on Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Piper Sandler lowered their target price on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.06.

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box 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 transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% 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.