Charles Schwab Investment Management Inc. Has $18.08 Million Stake in Jack in the Box Inc. (NASDAQ:JACK)

Charles Schwab Investment Management Inc. raised its position in Jack in the Box Inc. (NASDAQ:JACK) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,510 shares of the restaurant operator’s stock after acquiring an additional 8,038 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.03% of Jack in the Box worth $18,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in shares of Jack in the Box in the 2nd quarter valued at about $3,311,000. Aigen Investment Management LP lifted its position in shares of Jack in the Box by 238.5% in the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock valued at $1,018,000 after buying an additional 15,409 shares during the last quarter. Access Investment Management LLC bought a new position in shares of Jack in the Box during the 3rd quarter worth approximately $1,475,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Jack in the Box by 26.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after acquiring an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Jack in the Box by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after acquiring an additional 18,874 shares during the last quarter. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Stock Down 0.5 %

JACK stock opened at $47.97 on Friday. Jack in the Box Inc. has a 52 week low of $40.84 and a 52 week high of $86.20. The business has a 50-day simple moving average of $47.10 and a 200 day simple moving average of $49.82. The company has a market cap of $903.32 million, a PE ratio of -24.60, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s payout ratio is presently -90.26%.

Analysts Set New Price Targets

A number of research firms have commented on JACK. Loop Capital reduced their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays lifted their target price on shares of Jack in the Box from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Guggenheim lowered their price target on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada reduced their price objective on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Bank of America increased their target price on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.38.

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.