Jack in the Box (NASDAQ:JACK) Price Target Lowered to $60.00 at Oppenheimer

Jack in the Box (NASDAQ:JACK) had its target price trimmed by Oppenheimer from $70.00 to $60.00 in a research report report published on Friday,Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

JACK has been the topic of a number of other reports. Bank of America boosted their target price on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Northcoast Research downgraded Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Barclays reduced their price target on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Piper Sandler lowered their price objective on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Truist Financial reduced their target price on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.81.

Jack in the Box Stock Up 4.1 %

Shares of JACK stock opened at $46.61 on Friday. The company’s fifty day simple moving average is $46.04 and its two-hundred day simple moving average is $50.38. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20. The stock has a market cap of $891.65 million, a P/E ratio of -23.42, a PEG ratio of 0.70 and a beta of 1.93.

Jack in the Box Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, August 30th. Jack in the Box’s payout ratio is currently -88.44%.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction dated 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 directly owns 13,201 shares of the company’s stock, valued at $642,360.66. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Jack in the Box by 261.5% in the second 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 in the last quarter. Invenomic Capital Management LP bought a new position in shares of Jack in the Box during the 3rd quarter worth $11,802,000. Clearline Capital LP increased its stake in shares of Jack in the Box by 136.7% during the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after buying an additional 144,631 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Jack in the Box by 26.2% in the second 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. Finally, Squarepoint Ops LLC lifted its stake in Jack in the Box by 296.5% in the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock worth $6,884,000 after acquiring an additional 101,064 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.