Inspire Investing LLC Boosts Stock Holdings in Jack in the Box Inc. (NASDAQ:JACK)

Inspire Investing LLC grew its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 31.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,647 shares of the restaurant operator’s stock after purchasing an additional 1,851 shares during the period. Inspire Investing LLC’s holdings in Jack in the Box were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 179 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Jack in the Box by 2.5% during the first quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock valued at $779,000 after buying an additional 277 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after buying an additional 366 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Jack in the Box by 11.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after acquiring an additional 503 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Jack in the Box by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after acquiring an additional 644 shares in the last quarter. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

Jack in the Box Stock Performance

Shares of JACK opened at $44.16 on Friday. Jack in the Box Inc. has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The firm has a market cap of $856.26 million, a price-to-earnings ratio of 7.77, a PEG ratio of 0.67 and a beta of 1.95. The firm has a 50 day moving average price of $51.11 and a 200-day moving average price of $55.69.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The business had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities research analysts predict that Jack in the Box Inc. will post 6.22 earnings per share for the current year.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio is presently 30.99%.

Insider Buying and Selling

In other news, CFO Brian M. Scott sold 696 shares of the 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 completion of the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the transaction, the chief executive officer now owns 90,887 shares in the company, valued at approximately $4,693,404.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The disclosure for this sale can be found here. Insiders have sold a total of 1,348 shares of company stock worth $67,476 in the last ninety days. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on JACK. Morgan Stanley lowered their target price on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group assumed coverage on Jack in the Box in a research report on Thursday, June 13th. They issued a “sell” rating and a $55.00 price objective on the stock. Wedbush dropped their price objective on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Bank of America decreased their target price on Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, UBS Group dropped their price target on Jack in the Box from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have given 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 $69.35.

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.