Royal Bank of Canada Issues Pessimistic Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK) had its price target cut by Royal Bank of Canada from $70.00 to $65.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

JACK has been the subject of a number of other reports. Wedbush dropped their price target on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. The Goldman Sachs Group lowered their target price on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research report on Monday, October 21st. TD Cowen reiterated a “hold” rating and set a $50.00 price target on shares of Jack in the Box in a report on Thursday. Loop Capital decreased their price target on 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.38.

Jack in the Box Stock Down 0.6 %

Shares of NASDAQ:JACK opened at $47.50 on Thursday. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20. 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. The business has a 50 day moving average of $46.34 and a 200-day moving average of $50.15.

Jack in the Box Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be paid a $0.44 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is -90.26%.

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the business’s 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 transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC grew its position in shares of Jack in the Box by 73.2% during 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. DekaBank Deutsche Girozentrale purchased a new position in Jack in the Box in the third quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. grew its position in Jack in the Box by 172.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock worth $100,000 after acquiring an additional 1,354 shares in the last quarter. SG Americas Securities LLC purchased a new position in Jack in the Box in the third quarter worth $185,000. Finally, MML Investors Services LLC lifted its stake in Jack in the Box by 20.3% in the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 819 shares during the last quarter. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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.