Callodine Capital Management LP Raises Stake in Jack In The Box Inc. $JACK

Callodine Capital Management LP raised its stake in Jack In The Box Inc. (NASDAQ:JACK) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,760,470 shares of the restaurant operator’s stock after buying an additional 59,966 shares during the quarter. Callodine Capital Management LP owned approximately 9.25% of Jack In The Box worth $17,024,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of JACK. Bank of Nova Scotia acquired a new position in shares of Jack In The Box during the 1st quarter valued at about $102,000. Cetera Investment Advisers increased its position in Jack In The Box by 8.6% during the first quarter. Cetera Investment Advisers now owns 25,027 shares of the restaurant operator’s stock worth $242,000 after purchasing an additional 1,987 shares during the last quarter. Manning & Napier Advisors LLC increased its position in Jack In The Box by 0.4% during the first quarter. Manning & Napier Advisors LLC now owns 376,343 shares of the restaurant operator’s stock worth $3,639,000 after purchasing an additional 1,677 shares during the last quarter. Invesco Ltd. increased its position in Jack In The Box by 36.2% during the fourth quarter. Invesco Ltd. now owns 144,495 shares of the restaurant operator’s stock worth $2,738,000 after purchasing an additional 38,408 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC raised its stake in Jack In The Box by 19.4% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 107,267 shares of the restaurant operator’s stock worth $2,033,000 after purchasing an additional 17,411 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack In The Box Price Performance

Shares of JACK stock opened at $14.55 on Friday. Jack In The Box Inc. has a 1-year low of $8.91 and a 1-year high of $24.18. The firm has a market cap of $277.47 million, a PE ratio of 7.86, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38. The company has a 50-day moving average of $13.46 and a two-hundred day moving average of $15.07.

Jack In The Box (NASDAQ:JACK) last released its quarterly earnings results on Wednesday, May 13th. The restaurant operator reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $254.26 million for the quarter, compared to the consensus estimate of $256.55 million. Jack In The Box had a net margin of 2.82% and a negative return on equity of 6.34%. The business’s revenue was down 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. Sell-side analysts anticipate that Jack In The Box Inc. will post 3.42 EPS for the current fiscal year.

Insider Activity at Jack In The Box

In other news, Director Guillermo Diaz, Jr. acquired 5,962 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average cost of $11.51 per share, with a total value of $68,622.62. Following the completion of the purchase, the director owned 20,692 shares of the company’s stock, valued at $238,164.92. This represents a 40.48% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $15.00 target price on shares of Jack In The Box in a report on Thursday, May 14th. Stifel Nicolaus lifted their price target on shares of Jack In The Box from $10.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Guggenheim cut Jack In The Box from a “buy” rating to a “neutral” rating in a report on Thursday, May 28th. The Goldman Sachs Group lowered their price objective on Jack In The Box from $17.00 to $12.00 and set a “sell” rating for the company in a research report on Friday, May 15th. Finally, UBS Group reduced their target price on Jack In The Box from $23.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Jack In The Box currently has an average rating of “Hold” and an average price target of $15.84.

About Jack In The Box

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.