Texas Permanent School Fund reduced its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,031 shares of the restaurant operator’s stock after selling 534 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Jack in the Box worth $1,560,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in JACK. Northwestern Mutual Wealth Management Co. acquired a new position in Jack in the Box in the second quarter valued at approximately $33,000. Rocky Mountain Advisers LLC acquired a new position in Jack in the Box in the third quarter valued at approximately $73,000. FinTrust Capital Advisors LLC lifted its holdings in Jack in the Box by 17.1% in the second quarter. FinTrust Capital Advisors LLC now owns 994 shares of the restaurant operator’s stock valued at $111,000 after buying an additional 145 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Jack in the Box in the second quarter valued at approximately $208,000. Finally, Sawgrass Asset Management LLC bought a new stake in Jack in the Box in the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 98.87% of the company’s stock.
Shares of JACK stock opened at $85.29 on Tuesday. The stock has a market cap of $1.79 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.72 and a beta of 1.77. The company has a fifty day moving average price of $91.81 and a two-hundred day moving average price of $101.08. Jack in the Box Inc. has a one year low of $77.13 and a one year high of $124.53.
Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Monday, November 22nd. The restaurant operator reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.01. The firm had revenue of $278.50 million during the quarter, compared to analysts’ expectations of $288.76 million. Jack in the Box had a net margin of 14.49% and a negative return on equity of 20.58%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 earnings per share. On average, research analysts expect that Jack in the Box Inc. will post 6.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 23rd. Shareholders of record on Thursday, December 9th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, December 8th. Jack in the Box’s dividend payout ratio is currently 23.85%.
Several equities research analysts have commented on the stock. Wedbush downgraded shares of Jack in the Box from an “outperform” rating to a “neutral” rating in a research note on Monday, December 6th. Morgan Stanley lowered their target price on shares of Jack in the Box from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 24th. Robert W. Baird lowered their target price on shares of Jack in the Box from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, December 7th. Northcoast Research downgraded shares of Jack in the Box from a “buy” rating to a “neutral” rating and set a $110.71 target price for the company. in a research note on Wednesday, December 15th. Finally, Cowen lowered their price objective on shares of Jack in the Box from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, November 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $113.51.
In other Jack in the Box news, CEO Darin S. Harris sold 1,840 shares of the stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $84.97, for a total value of $156,344.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 2,020 shares of company stock valued at $171,350. Corporate insiders own 1.10% of the company’s stock.
Jack in the Box Profile
Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.
Further Reading: Price to Earnings Ratio (PE)
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