Bank of New York Mellon Corp Reduces Position in Jack in the Box Inc. (NASDAQ:JACK)

Bank of New York Mellon Corp trimmed its stake in Jack in the Box Inc. (NASDAQ:JACK) by 31.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,525 shares of the restaurant operator’s stock after selling 68,465 shares during the period. Bank of New York Mellon Corp owned about 0.80% of Jack in the Box worth $6,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Invenomic Capital Management LP bought a new position in shares of Jack in the Box during the 3rd quarter worth approximately $11,802,000. Barclays PLC increased its stake in shares of Jack in the Box by 70.9% in the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after acquiring an additional 89,649 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Jack in the Box by 191.5% in the third quarter. Point72 Asset Management L.P. now owns 88,000 shares of the restaurant operator’s stock worth $4,096,000 after acquiring an additional 57,810 shares during the period. Stifel Financial Corp boosted its holdings in Jack in the Box by 111.6% during the third quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock worth $3,802,000 after buying an additional 43,086 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Jack in the Box by 3.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator’s stock worth $30,244,000 after buying an additional 25,881 shares in the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Sarah L. Super sold 1,688 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the sale, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. The trade was a 9.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Jack in the Box Trading Up 0.7 %

Shares of NASDAQ:JACK opened at $31.34 on Monday. The firm has a 50 day simple moving average of $38.31 and a 200-day simple moving average of $43.08. The company has a market capitalization of $591.01 million, a PE ratio of -16.07, a P/E/G ratio of 1.29 and a beta of 1.95. Jack in the Box Inc. has a twelve month low of $30.76 and a twelve month high of $74.24.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.21. The company had revenue of $469.44 million for the quarter, compared to analysts’ expectations of $470.47 million. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. As a group, equities research analysts predict that Jack in the Box Inc. will post 5.33 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $1.76 annualized dividend and a dividend yield of 5.62%. Jack in the Box’s payout ratio is currently -82.63%.

Wall Street Analyst Weigh In

JACK has been the topic of several recent analyst reports. Oppenheimer decreased their price objective on shares of Jack in the Box from $60.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. TD Securities restated a “hold” rating and set a $42.00 price objective on shares of Jack in the Box in a research report on Wednesday, February 26th. UBS Group cut their price objective on shares of Jack in the Box from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Guggenheim reissued a “buy” rating and issued a $55.00 price objective on shares of Jack in the Box in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Jack in the Box presently has an average rating of “Hold” and a consensus target price of $49.56.

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.