Jack in the Box Inc. (NASDAQ:JACK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Jack in the Box Inc. (NASDAQ:JACK) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,914 shares of the restaurant operator’s stock after selling 457 shares during the period. State of Alaska Department of Revenue’s holdings in Jack in the Box were worth $815,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Jack in the Box by 9.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after buying an additional 179 shares during the period. Quadrant Capital Group LLC increased its position in Jack in the Box by 21.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock worth $126,000 after buying an additional 276 shares during the period. Janney Montgomery Scott LLC increased its position in Jack in the Box by 16.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,144 shares of the restaurant operator’s stock worth $420,000 after buying an additional 721 shares during the period. Bridge City Capital LLC increased its position in Jack in the Box by 3.4% during the first quarter. Bridge City Capital LLC now owns 31,951 shares of the restaurant operator’s stock worth $2,188,000 after buying an additional 1,046 shares during the period. Finally, Phocas Financial Corp. increased its position in Jack in the Box by 1.8% during the fourth quarter. Phocas Financial Corp. now owns 76,898 shares of the restaurant operator’s stock worth $6,277,000 after buying an additional 1,375 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

Insiders Place Their Bets

In other Jack in the Box news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the sale, the chief executive officer now directly owns 90,887 shares in the company, valued at $4,693,404.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 800 shares of company stock worth $41,514. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

JACK has been the topic of several analyst reports. Barclays lowered their target price on Jack in the Box from $80.00 to $60.00 and set an “equal weight” 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 note on Thursday, June 13th. They issued a “sell” rating and a $55.00 target price on the stock. Oppenheimer lowered their target price on Jack in the Box from $98.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Piper Sandler lowered their target price on Jack in the Box from $81.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Bank of America lowered 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.94.

Jack in the Box Price Performance

Jack in the Box stock opened at $47.30 on Wednesday. Jack in the Box Inc. has a 1-year low of $46.75 and a 1-year high of $99.56. The company has a market cap of $917.15 million, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.91. The stock’s 50 day moving average price is $53.04 and its 200 day moving average price is $65.38.

Jack in the Box (NASDAQ:JACK) last posted its earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $365.40 million for the quarter, compared to the consensus estimate of $369.53 million. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. Jack in the Box’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 earnings per share. On average, equities research analysts anticipate that Jack in the Box Inc. will post 6.31 EPS 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. Shareholders of record on Thursday, June 6th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.72%. Jack in the Box’s payout ratio is 30.99%.

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.