PNC Financial Services Group Inc. Acquires 978 Shares of Jack in the Box Inc. (NASDAQ:JACK)

PNC Financial Services Group Inc. lifted its position in Jack in the Box Inc. (NASDAQ:JACK) by 168.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,558 shares of the restaurant operator’s stock after buying an additional 978 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jack in the Box were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of JACK. Allspring Global Investments Holdings LLC raised its stake in Jack in the Box by 3.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator’s stock valued at $30,244,000 after purchasing an additional 25,881 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Jack in the Box by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 436,361 shares of the restaurant operator’s stock valued at $18,170,000 after buying an additional 47,851 shares during the period. Clearline Capital LP raised its holdings in Jack in the Box by 4.1% during the 3rd 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. Invenomic Capital Management LP acquired a new stake in Jack in the Box during the 3rd quarter worth about $11,802,000. Finally, Barclays PLC increased its holdings in 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 purchasing an additional 89,649 shares in the last quarter. 99.79% of the stock is owned by institutional investors.

Jack in the Box Stock Down 1.7 %

NASDAQ:JACK opened at $28.36 on Thursday. The stock’s 50-day moving average price is $36.99 and its 200-day moving average price is $42.15. Jack in the Box Inc. has a 52 week low of $28.21 and a 52 week high of $70.81. The stock has a market capitalization of $534.81 million, a PE ratio of -14.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.95.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.21. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. The company had revenue of $469.44 million during the quarter, compared to the consensus estimate of $470.47 million. Sell-side analysts expect that Jack in the Box Inc. will post 5.33 earnings per share 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. Investors of record on Thursday, March 20th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.76 annualized dividend and a yield of 6.21%. Jack in the Box’s payout ratio is -82.63%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on JACK shares. Stifel Nicolaus reduced their price target on shares of Jack in the Box from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Monday. TD Securities reiterated a “hold” rating and issued a $42.00 target price on shares of Jack in the Box in a research note on Wednesday, February 26th. Morgan Stanley cut their target price on shares of Jack in the Box from $53.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. UBS Group decreased their target price on shares of Jack in the Box from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Guggenheim reissued a “buy” rating and issued a $55.00 price target 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.25.

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.