Jack in the Box (NASDAQ:JACK) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Jack in the Box (NASDAQ:JACK) from a hold rating to a sell rating in a research note published on Wednesday.

Other equities analysts have also issued research reports about the stock. Piper Sandler cut 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. Barclays raised their price objective on shares of Jack in the Box from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. The Goldman Sachs Group lowered their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a report on Monday, October 21st. Guggenheim cut their price target on Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Finally, Royal Bank of Canada decreased their price objective on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Two investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.35.

Jack in the Box Stock Performance

Shares of JACK opened at $39.58 on Wednesday. Jack in the Box has a 1 year low of $36.36 and a 1 year high of $81.01. The stock’s fifty day moving average price is $44.30 and its two-hundred day moving average price is $47.50.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Thursday, December 12th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Thursday, December 12th. Jack in the Box’s payout ratio is -90.26%.

Insider Activity

In related 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 value of $68,397.76. Following the transaction, the senior vice president now owns 16,815 shares of the company’s stock, valued at $681,343.80. This represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 2,343 shares of company stock worth $100,601. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jack in the Box

A number of hedge funds and other institutional investors have recently modified their holdings of JACK. West Oak Capital LLC raised its holdings in shares of Jack in the Box by 30,452.9% during the 4th quarter. West Oak Capital LLC now owns 21,387 shares of the restaurant operator’s stock valued at $891,000 after buying an additional 21,317 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 735 shares during the last quarter. Barclays PLC raised its stake in shares of Jack in the Box by 70.9% during the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after acquiring an additional 89,649 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Jack in the Box by 20.3% in the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 819 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Jack in the Box in the 3rd quarter valued at $429,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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.