Fmr LLC Cuts Position in Jack in the Box Inc. (NASDAQ:JACK)

Fmr LLC trimmed its holdings in shares of Jack in the Box Inc. (NASDAQ:JACK) by 36.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,892 shares of the restaurant operator’s stock after selling 1,074 shares during the quarter. Fmr LLC’s holdings in Jack in the Box were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of JACK. Victory Capital Management Inc. lifted its holdings in Jack in the Box by 261.5% during the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after purchasing an additional 403,423 shares in the last quarter. Clearline Capital LP lifted its holdings in shares of Jack in the Box by 136.7% in the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after buying an additional 144,631 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Jack in the Box by 26.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after acquiring an additional 130,214 shares during the period. Squarepoint Ops LLC boosted its position in shares of Jack in the Box by 296.5% in the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock valued at $6,884,000 after acquiring an additional 101,064 shares during the period. Finally, Access Investment Management LLC purchased a new position in Jack in the Box during the third quarter valued at approximately $1,475,000. 99.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Jack in the Box from $55.00 to $52.00 and set a “hold” rating for the company in a research report on Monday, December 9th. Oppenheimer restated an “outperform” rating and issued a $60.00 target price on shares of Jack in the Box in a research note on Thursday, November 21st. StockNews.com upgraded Jack in the Box from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group decreased their price objective on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Finally, Piper Sandler dropped 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 research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.88.

Insider Activity

In other news, SVP Sarah L. Super sold 1,688 shares of the stock in a transaction on 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 approximately $681,343.80. This represents a 9.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 2,343 shares of company stock worth $100,601 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Jack in the Box Trading Down 1.5 %

Shares of JACK opened at $40.11 on Tuesday. The firm has a market cap of $755.31 million, a P/E ratio of -20.57, a PEG ratio of 1.59 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. The stock’s 50 day moving average is $46.96 and its two-hundred day moving average is $49.05.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio is currently -90.26%.

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.