Jack in the Box (NASDAQ:JACK) Given New $50.00 Price Target at TD Cowen

Jack in the Box (NASDAQ:JACK) had its price target trimmed by TD Cowen from $57.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the restaurant operator’s stock.

A number of other research analysts have also recently commented on JACK. Royal Bank of Canada dropped their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Bank of America cut their target price on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. 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 note on Tuesday, July 16th. Finally, Loop Capital reduced their price objective on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.56.

Jack in the Box Price Performance

Shares of JACK opened at $46.71 on Wednesday. The firm has a 50 day simple moving average of $47.39 and a two-hundred day simple moving average of $52.43. Jack in the Box has a one year low of $40.84 and a one year high of $86.20. The company has a market cap of $905.71 million, a P/E ratio of 8.22, a P/E/G ratio of 0.63 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The company had revenue of $369.17 million for the quarter, compared to analyst estimates of $371.81 million. During the same quarter last year, the company posted $1.45 EPS. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, analysts expect that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio is currently 30.99%.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the sale, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Jack in the Box by 26.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after acquiring an additional 130,214 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Jack in the Box by 261.5% in the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after purchasing an additional 403,423 shares during the period. Clearline Capital LP lifted its stake in Jack in the Box by 136.7% in the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after purchasing an additional 144,631 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Jack in the Box by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after purchasing an additional 18,874 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in Jack in the Box by 10.2% during the second quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock valued at $12,266,000 after purchasing an additional 22,226 shares during the period. 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.