TD Cowen Reiterates “Hold” Rating for Jack in the Box (NASDAQ:JACK)

TD Cowen reaffirmed their hold rating on shares of Jack in the Box (NASDAQ:JACK) in a research report sent to investors on Thursday,Benzinga reports. TD Cowen currently has a $50.00 target price on the restaurant operator’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Jack in the Box in a research report on Monday, November 4th. The Goldman Sachs Group dropped their price objective on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. Piper Sandler cut their target price on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Oppenheimer lowered their price target on Jack in the Box from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Finally, UBS Group cut their price objective on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Jack in the Box has a consensus rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Stock Down 0.6 %

Shares of Jack in the Box stock opened at $47.50 on Thursday. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The business’s fifty day moving average is $46.34 and its two-hundred day moving average is $50.15. The firm 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 Announces Dividend

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

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred 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 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 through the SEC website. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in 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 valued at $33,156,000 after acquiring an additional 85,461 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Jack in the Box by 261.5% in the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after purchasing an additional 403,423 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 during the last quarter. Clearline Capital LP lifted its position in shares of Jack in the Box by 4.1% during the third quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after purchasing an additional 10,304 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new position in Jack in the Box in the third quarter worth about $11,802,000. 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.