Principal Financial Group Inc. Trims Holdings in Jack in the Box Inc. (NASDAQ:JACK)

Principal Financial Group Inc. lowered its position in Jack in the Box Inc. (NASDAQ:JACK) by 19.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,649 shares of the restaurant operator’s stock after selling 21,366 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Jack in the Box worth $4,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after purchasing an additional 18,874 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Jack in the Box by 11.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after buying an additional 503 shares during the last quarter. Victory Capital Management Inc. lifted its holdings 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 buying an additional 403,423 shares during the period. Quest Partners LLC boosted its stake in shares of Jack in the Box by 39.4% in the second quarter. Quest Partners LLC now owns 14,095 shares of the restaurant operator’s stock worth $718,000 after buying an additional 3,986 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in Jack in the Box by 347.7% during the second quarter. Headlands Technologies LLC now owns 6,349 shares of the restaurant operator’s stock worth $323,000 after acquiring an additional 4,931 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

Insider Transactions at Jack in the Box

In related news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the transaction, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 2,343 shares of company stock worth $100,601 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler cut 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 report on Wednesday, October 30th. Bank of America boosted their price target on shares of Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. UBS Group reduced their target price 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 $51.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Truist Financial lowered their target price on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Jack in the Box presently has an average rating of “Hold” and a consensus price target of $59.88.

Jack in the Box Trading Down 1.6 %

Shares of NASDAQ:JACK opened at $40.97 on Friday. The business has a 50-day moving average price of $46.06 and a 200 day moving average price of $48.23. The company has a market capitalization of $771.51 million, a price-to-earnings ratio of -21.01, a PEG ratio of 1.49 and a beta of 1.92. Jack in the Box Inc. has a 12-month low of $38.12 and a 12-month high of $86.20.

Jack in the Box Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Thursday, December 12th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Thursday, December 12th. Jack in the Box’s dividend payout ratio (DPR) is -90.26%.

Jack in the Box Profile

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.