Jack in the Box (NASDAQ:JACK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Jack in the Box (NASDAQ:JACK) from a sell rating to a hold rating in a research note published on Thursday morning.

A number of other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a report on Thursday. Oppenheimer restated an “outperform” rating and set a $60.00 price target on shares of Jack in the Box in a report on Thursday. TD Cowen reaffirmed a “hold” rating and issued a $50.00 price target on shares of Jack in the Box in a research report on Thursday. Bank of America boosted their price objective on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Jack in the Box currently has a consensus rating of “Hold” and a consensus price target of $60.38.

Jack in the Box Price Performance

Shares of JACK opened at $47.50 on Thursday. The firm has a 50-day simple moving average of $46.34 and a two-hundred day simple moving average of $50.15. The stock has a market cap of $908.49 million, a PE ratio of -24.36, a P/E/G ratio of 1.49 and a beta of 1.93. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20.

Jack in the Box Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. Jack in the Box’s payout ratio is -90.26%.

Insider Activity

In related news, CFO Brian M. Scott sold 696 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Jack in the Box by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock valued at $33,156,000 after acquiring an additional 85,461 shares during the period. 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 worth $28,408,000 after purchasing an additional 403,423 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Jack in the Box by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock worth $18,081,000 after purchasing an additional 8,038 shares in the last quarter. Clearline Capital LP grew its holdings in Jack in the Box by 4.1% in the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock valued at $12,134,000 after purchasing an additional 10,304 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new position in shares of Jack in the Box in the third quarter valued at $11,802,000. 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.