Jack in the Box’s (JACK) Hold Rating Reaffirmed at TD Cowen

TD Cowen restated their hold rating on shares of Jack in the Box (NASDAQ:JACK) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $57.00 target price on the restaurant operator’s stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of Jack in the Box in a research note on Thursday, June 13th. They set a sell rating and a $55.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Wedbush reduced their price objective on shares of Jack in the Box from $68.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. UBS Group reduced their price objective on shares of Jack in the Box from $60.00 to $55.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays reduced their price objective on shares of Jack in the Box from $80.00 to $60.00 and set an equal weight rating on the stock in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $69.35.

Jack in the Box Stock Up 3.6 %

NASDAQ:JACK opened at $44.41 on Thursday. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20. The firm has a market capitalization of $861.11 million, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.67 and a beta of 1.95. The firm has a 50-day moving average price of $51.58 and a 200 day moving average price of $56.74.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data 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. The firm had revenue of $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, research analysts expect that Jack in the Box will post 6.22 EPS for the current year.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 30th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is currently 30.99%.

Insider Activity

In other news, CEO Darin S. Harris sold 598 shares of Jack in the Box stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The shares were 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 approximately $642,360.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Darin S. Harris sold 598 shares of Jack in the Box 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 sale, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The disclosure for this sale can be found here. Insiders sold a total of 1,348 shares of company stock valued at $67,476 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Jack in the Box by 9.9% in 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. Quadrant Capital Group LLC raised its stake in Jack in the Box by 21.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 276 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Jack in the Box by 2.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock worth $779,000 after purchasing an additional 277 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Jack in the Box by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after purchasing an additional 358 shares in the last quarter. Finally, EntryPoint Capital LLC raised its stake in Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares in the last quarter. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Company 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.