Jack in the Box Inc. (NASDAQ:JACK – Get Free Report) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,830,000 shares, a decline of 14.1% from the October 15th total of 2,130,000 shares. Based on an average trading volume of 535,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 9.9% of the company’s stock are sold short.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on JACK. Truist Financial dropped their price target on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Northcoast Research downgraded Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Piper Sandler lowered their price target on 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.44.
Read Our Latest Stock Analysis on Jack in the Box
Insider Buying and Selling
Hedge Funds Weigh In On Jack in the Box
A number of institutional investors and hedge funds have recently added to or reduced their stakes in JACK. The Manufacturers Life Insurance Company raised its stake in Jack in the Box by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after acquiring an additional 358 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Jack in the Box by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after buying an additional 503 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Jack in the Box by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after buying an additional 644 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in Jack in the Box by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after buying an additional 790 shares during the period. 99.79% of the stock is owned by institutional investors.
Jack in the Box Stock Down 3.6 %
Shares of NASDAQ:JACK opened at $44.76 on Monday. The company’s 50-day moving average price is $46.00 and its 200 day moving average price is $50.44. The company has a market cap of $856.26 million, a PE ratio of -22.49, a P/E/G ratio of 0.70 and a beta of 1.93. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20.
Jack in the Box Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.93%. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.
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.
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