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

Principal Financial Group Inc. trimmed its position in shares of Jack in the Box Inc. (NASDAQ:JACK) by 19.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,649 shares of the restaurant operator’s stock after selling 21,366 shares during the period. Principal Financial Group Inc. owned about 0.47% of Jack in the Box worth $4,219,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Jack in the Box by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after acquiring an additional 358 shares during the period. EntryPoint Capital LLC increased its stake in shares of Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after purchasing an additional 366 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 worth $255,000 after acquiring an additional 503 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 buying an additional 644 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Jack in the Box by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after buying an additional 790 shares during the last quarter. 99.79% of the stock is owned by institutional investors.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.

Jack in the Box Price Performance

Shares of NASDAQ:JACK opened at $47.76 on Friday. The firm has a market capitalization of $913.55 million, a PE ratio of -24.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. The business has a 50 day simple moving average of $46.28 and a two-hundred day simple moving average of $50.27. Jack in the Box Inc. has a 1 year low of $40.84 and a 1 year high of $86.20.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s dividend payout ratio is presently -88.44%.

Analysts Set New Price Targets

Several analysts recently issued reports on JACK shares. Barclays boosted their target price on shares of Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday. Truist Financial reduced their price objective on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Loop Capital dropped their target price 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. The Goldman Sachs Group dropped their price objective on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

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.