The Goldman Sachs Group Cuts Jack in the Box (NASDAQ:JACK) Price Target to $19.00

Jack in the Box (NASDAQ:JACK) had its target price trimmed by The Goldman Sachs Group from $24.00 to $19.00 in a report published on Wednesday morning,Benzinga reports. They currently have a sell rating on the restaurant operator’s stock.

A number of other brokerages have also recently commented on JACK. Barclays cut their price target on shares of Jack in the Box from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 15th. Loop Capital decreased their target price on Jack in the Box from $65.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, May 15th. Wedbush cut Jack in the Box from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $40.00 in a report on Friday, February 21st. Wall Street Zen raised shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Northcoast Research lowered shares of Jack in the Box from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.32.

Jack in the Box Price Performance

Jack in the Box stock opened at $20.29 on Wednesday. The stock’s 50 day moving average is $23.71 and its 200 day moving average is $34.00. Jack in the Box has a one year low of $18.24 and a one year high of $60.73. The firm has a market cap of $383.05 million, a P/E ratio of -10.41, a P/E/G ratio of 1.29 and a beta of 1.20.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. The firm had revenue of $336.70 million during the quarter, compared to analyst estimates of $345.81 million. During the same quarter last year, the business earned $1.46 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. Equities analysts anticipate that Jack in the Box will post 5.33 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 8.67%. Jack in the Box’s dividend payout ratio is presently -16.21%.

Institutional Trading of Jack in the Box

Several hedge funds and other institutional investors have recently modified their holdings of JACK. Callodine Capital Management LP boosted its holdings in Jack in the Box by 121.3% in the 1st quarter. Callodine Capital Management LP now owns 675,667 shares of the restaurant operator’s stock worth $18,371,000 after buying an additional 370,290 shares during the period. IPG Investment Advisors LLC boosted its holdings in shares of Jack in the Box by 54.8% in the first quarter. IPG Investment Advisors LLC now owns 681,935 shares of the restaurant operator’s stock worth $18,840,000 after acquiring an additional 241,316 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Jack in the Box in the fourth quarter valued at $7,655,000. Invenomic Capital Management LP raised its stake in shares of Jack in the Box by 43.5% during the 1st quarter. Invenomic Capital Management LP now owns 511,954 shares of the restaurant operator’s stock valued at $13,920,000 after purchasing an additional 155,197 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Jack in the Box by 178.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 196,740 shares of the restaurant operator’s stock valued at $8,192,000 after purchasing an additional 126,101 shares during the period. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Company Profile

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.