Phocas Financial Corp. Lowers Stake in Jack in the Box Inc. (NASDAQ:JACK)

Phocas Financial Corp. reduced its stake in shares of Jack in the Box Inc. (NASDAQ:JACK) by 85.0% in the fourth quarter, Holdings Channel reports. The firm owned 10,361 shares of the restaurant operator’s stock after selling 58,843 shares during the period. Phocas Financial Corp.’s holdings in Jack in the Box were worth $431,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Aigen Investment Management LP raised its holdings in shares of Jack in the Box by 238.5% in the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock valued at $1,018,000 after acquiring an additional 15,409 shares in the last quarter. Barclays PLC raised its holdings in shares of Jack in the Box by 70.9% in the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock valued at $10,060,000 after acquiring an additional 89,649 shares in the last quarter. Biglari Sardar raised its holdings in shares of Jack in the Box by 14.2% in the third quarter. Biglari Sardar now owns 96,717 shares of the restaurant operator’s stock valued at $4,501,000 after acquiring an additional 12,000 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Jack in the Box in the third quarter valued at about $1,475,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Jack in the Box by 3.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator’s stock valued at $30,244,000 after acquiring an additional 25,881 shares in the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.

Jack in the Box Stock Up 11.8 %

Shares of NASDAQ JACK opened at $37.94 on Thursday. The business’s 50 day moving average price is $39.55 and its 200 day moving average price is $44.56. The firm has a market cap of $715.40 million, a P/E ratio of -19.46, a P/E/G ratio of 1.29 and a beta of 1.94. Jack in the Box Inc. has a 52 week low of $32.69 and a 52 week high of $76.56.

Jack in the Box (NASDAQ:JACK) last issued its earnings results on Tuesday, February 25th. The restaurant operator reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.21. The firm had revenue of $469.44 million for the quarter, compared to analyst estimates of $470.47 million. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. As a group, research analysts expect that Jack in the Box Inc. will post 5.33 earnings per share for the current year.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Thursday, March 20th will be given a $0.44 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.76 dividend on an annualized basis and a yield of 4.64%. Jack in the Box’s dividend payout ratio is currently -90.26%.

Insider Activity at Jack in the Box

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 16,815 shares in the company, valued at approximately $681,343.80. This represents a 9.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 2,190 shares of company stock worth $92,961 over the last quarter. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada decreased their price objective on Jack in the Box from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday. TD Cowen reiterated a “hold” rating and issued a $50.00 target price on shares of Jack in the Box in a report on Thursday, November 21st. TD Securities reiterated a “hold” rating and issued a $42.00 target price on shares of Jack in the Box in a report on Wednesday. Piper Sandler reduced 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 report on Wednesday, October 30th. Finally, Northcoast Research downgraded shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Jack in the Box presently has a consensus rating of “Hold” and an average price target of $49.88.

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.