UBS Group Cuts Jack in the Box (NASDAQ:JACK) Price Target to $55.00

Jack in the Box (NASDAQ:JACK) had its price objective decreased by UBS Group from $60.00 to $55.00 in a research note released on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the restaurant operator’s stock.

Several other equities analysts also recently weighed in on the company. Oppenheimer dropped their price objective on Jack in the Box from $75.00 to $70.00 and set an outperform rating for the company in a research note on Wednesday. Piper Sandler dropped their price objective on Jack in the Box from $60.00 to $56.00 and set a neutral rating for the company in a research note on Wednesday. Truist Financial dropped their price target on Jack in the Box from $83.00 to $70.00 and set a buy rating for the company in a research report on Wednesday. Royal Bank of Canada dropped their price target on Jack in the Box from $75.00 to $70.00 and set an outperform rating for the company in a research report on Wednesday. Finally, Morgan Stanley dropped their price target on Jack in the Box from $70.00 to $60.00 and set an equal weight rating for the company in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $71.61.

Jack in the Box Trading Up 1.8 %

Shares of JACK traded up $0.97 during mid-day trading on Wednesday, hitting $53.53. The company’s stock had a trading volume of 445,378 shares, compared to its average volume of 490,386. Jack in the Box has a 1-year low of $46.10 and a 1-year high of $88.36. The firm has a market capitalization of $1.04 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.76 and a beta of 1.91. The firm has a 50-day simple moving average of $53.26 and a 200 day simple moving average of $61.40.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The firm had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. During the same period last year, the business posted $1.45 EPS. Jack in the Box’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Jack in the Box will post 6.29 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, August 30th. Jack in the Box’s payout ratio is 30.99%.

Insider Transactions at Jack in the Box

In related news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the sale, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 800 shares of company stock valued at $41,514. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of Jack in the Box by 6.5% during the second quarter. Envestnet Asset Management Inc. now owns 98,975 shares of the restaurant operator’s stock worth $5,042,000 after buying an additional 6,064 shares during the period. Headlands Technologies LLC boosted its stake in shares of Jack in the Box by 347.7% during the 2nd quarter. Headlands Technologies LLC now owns 6,349 shares of the restaurant operator’s stock worth $323,000 after acquiring an additional 4,931 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Jack in the Box by 39.4% during the 2nd quarter. Quest Partners LLC now owns 14,095 shares of the restaurant operator’s stock worth $718,000 after acquiring an additional 3,986 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 403,423 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Jack in the Box in the second quarter valued at $1,070,000. 99.79% of the stock is owned by institutional investors.

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.