Allspring Global Investments Holdings LLC Has $34.02 Million Position in Jack in the Box Inc. (NASDAQ:JACK)

Allspring Global Investments Holdings LLC decreased its position in shares of Jack in the Box Inc. (NASDAQ:JACK) by 0.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 496,741 shares of the restaurant operator’s stock after selling 3,246 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Jack in the Box were worth $34,017,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bridge City Capital LLC boosted its holdings in Jack in the Box by 3.4% in the first quarter. Bridge City Capital LLC now owns 31,951 shares of the restaurant operator’s stock valued at $2,188,000 after acquiring an additional 1,046 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Jack in the Box by 9.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 179 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Jack in the Box by 777.7% during the 4th quarter. GSA Capital Partners LLP now owns 33,809 shares of the restaurant operator’s stock worth $2,760,000 after buying an additional 29,957 shares during the period. Lighthouse Investment Partners LLC bought a new stake in shares of Jack in the Box during the fourth quarter worth approximately $11,424,000. Finally, Blueshift Asset Management LLC lifted its holdings in Jack in the Box by 24.1% in the fourth quarter. Blueshift Asset Management LLC now owns 8,412 shares of the restaurant operator’s stock valued at $687,000 after buying an additional 1,633 shares during the period. 99.79% of the stock is currently owned by institutional investors.

Jack in the Box Price Performance

Shares of NASDAQ:JACK opened at $48.60 on Friday. The company’s 50-day moving average price is $53.59 and its two-hundred day moving average price is $66.32. Jack in the Box Inc. has a one year low of $47.42 and a one year high of $99.56. The stock has a market capitalization of $942.35 million, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.67 and a beta of 1.91.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $365.40 million during the quarter, compared to analysts’ expectations of $369.53 million. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. On average, analysts anticipate that Jack in the Box Inc. will post 6.31 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Thursday, June 6th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.62%. Jack in the Box’s payout ratio is 30.99%.

Insiders Place Their Bets

In other news, CEO Darin S. Harris sold 598 shares of Jack in the Box stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 800 shares of company stock valued at $41,514. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler lowered their target price on shares of Jack in the Box from $81.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Truist Financial decreased their price objective on Jack in the Box from $99.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Bank of America cut their target price on Jack in the Box from $87.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. The Goldman Sachs Group initiated coverage on Jack in the Box in a research report on Thursday, June 13th. They set a “sell” rating and a $55.00 target price for the company. Finally, Wedbush lowered their price target on Jack in the Box from $78.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.94.

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.