Shares of Jack in the Box Inc. (NASDAQ:JACK – Get Free Report) reached a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $80.00 to $75.00. Morgan Stanley currently has an equal weight rating on the stock. Jack in the Box traded as low as $59.19 and last traded at $59.65, with a volume of 76895 shares. The stock had previously closed at $59.55.
A number of other analysts have also issued reports on the company. Truist Financial boosted their target price on Jack in the Box from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. TD Cowen reaffirmed a “hold” rating and issued a $82.00 target price on shares of Jack in the Box in a report on Wednesday, April 10th. Robert W. Baird reduced their target price on shares of Jack in the Box from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Barclays cut their price target on shares of Jack in the Box from $86.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, February 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $98.00 target price on shares of Jack in the Box in a research report on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.67.
Insider Activity
In other news, Director Michael W. Murphy sold 1,332 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $72.58, for a total value of $96,676.56. Following the transaction, the director now owns 71,035 shares of the company’s stock, valued at approximately $5,155,720.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On Jack in the Box
Several hedge funds and other institutional investors have recently added to or reduced their stakes in JACK. Capital World Investors purchased a new stake in Jack in the Box during the 1st quarter worth $98,706,000. BlackRock Inc. increased its stake in Jack in the Box by 36.3% during the 1st quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock worth $306,789,000 after buying an additional 874,419 shares during the period. LSV Asset Management increased its stake in Jack in the Box by 74.4% during the 4th quarter. LSV Asset Management now owns 996,472 shares of the restaurant operator’s stock worth $81,342,000 after buying an additional 425,079 shares during the period. Millennium Management LLC increased its stake in Jack in the Box by 4,575.5% during the 2nd quarter. Millennium Management LLC now owns 313,963 shares of the restaurant operator’s stock worth $17,601,000 after buying an additional 307,248 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Jack in the Box by 79.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 685,827 shares of the restaurant operator’s stock worth $66,889,000 after acquiring an additional 303,354 shares in the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.
Jack in the Box Stock Performance
The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.72 and a beta of 1.76. The company’s fifty day simple moving average is $70.52 and its two-hundred day simple moving average is $72.25.
Jack in the Box (NASDAQ:JACK – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $487.50 million during the quarter, compared to analyst estimates of $480.76 million. Jack in the Box had a net margin of 7.03% and a negative return on equity of 17.24%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the business earned $2.01 EPS. Sell-side analysts anticipate that Jack in the Box Inc. will post 6.39 EPS for the current year.
Jack in the Box Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Thursday, March 14th. Jack in the Box’s dividend payout ratio (DPR) is presently 30.93%.
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.