Jack in the Box (NASDAQ:JACK) Stock Price Down 3.6% – Here’s What Happened

Jack in the Box Inc. (NASDAQ:JACK)’s stock price was down 3.6% during mid-day trading on Thursday . The stock traded as low as $38.16 and last traded at $38.16. Approximately 33,946 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 565,275 shares. The stock had previously closed at $39.58.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on JACK shares. UBS Group cut their target price on shares of Jack in the Box from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Truist Financial cut their price target on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Wedbush cut their price target on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. TD Cowen restated a “hold” rating and set a $50.00 price target on shares of Jack in the Box in a research report on Thursday, November 21st. Finally, Loop Capital cut their price target 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.76.

Jack in the Box Price Performance

The company has a market capitalization of $741.53 million, a P/E ratio of -20.19, a P/E/G ratio of 1.22 and a beta of 1.94. The stock’s 50 day moving average is $44.08 and its 200-day moving average is $47.44.

Jack in the Box Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Thursday, December 12th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Thursday, December 12th. Jack in the Box’s payout ratio is currently -90.26%.

Insider Buying and Selling

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 owns 16,815 shares of the company’s stock, valued at approximately $681,343.80. This trade represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,343 shares of company stock valued at $100,601 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in shares of Jack in the Box during the third quarter valued at approximately $41,000. GAMMA Investing LLC increased its stake in shares of Jack in the Box by 229.7% during the fourth quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 735 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Jack in the Box by 172.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after purchasing an additional 1,354 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Jack in the Box during the third quarter valued at approximately $185,000. Finally, MML Investors Services LLC increased its stake in shares of Jack in the Box by 20.3% during the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 819 shares in the last quarter. Institutional investors own 99.79% of the company’s stock.

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.