LSV Asset Management Cuts Position in Jack in the Box Inc. (NASDAQ:JACK)

LSV Asset Management decreased its holdings in shares of Jack in the Box Inc. (NASDAQ:JACK) by 1.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 967,334 shares of the restaurant operator’s stock after selling 17,058 shares during the period. LSV Asset Management owned 4.99% of Jack in the Box worth $49,276,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in Jack in the Box during the 4th quarter valued at approximately $1,313,000. GSA Capital Partners LLP increased its holdings in shares of Jack in the Box by 777.7% during the fourth quarter. GSA Capital Partners LLP now owns 33,809 shares of the restaurant operator’s stock valued at $2,760,000 after acquiring an additional 29,957 shares in the last quarter. Trexquant Investment LP raised its position in shares of Jack in the Box by 840.9% in the 4th quarter. Trexquant Investment LP now owns 129,763 shares of the restaurant operator’s stock worth $10,593,000 after purchasing an additional 115,972 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Jack in the Box by 21.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after purchasing an additional 23,770 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Jack in the Box during the 2nd quarter valued at about $3,311,000. 99.79% of the stock is owned by institutional investors.

Jack in the Box Price Performance

Shares of Jack in the Box stock opened at $44.72 on Tuesday. Jack in the Box Inc. has a 1-year low of $44.57 and a 1-year high of $86.20. The company’s fifty day simple moving average is $52.03 and its 200-day simple moving average is $57.43. The stock has a market capitalization of $867.12 million, a PE ratio of 7.87, a P/E/G ratio of 0.71 and a beta of 1.95.

Jack in the Box (NASDAQ:JACK) last released its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.14. The company had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. Jack in the Box’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. As a group, research analysts anticipate that Jack in the Box Inc. will post 6.22 EPS for the current year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.94%. The ex-dividend date is Friday, August 30th. Jack in the Box’s dividend payout ratio is 30.99%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Bank of America decreased their price objective on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their target price on Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. TD Cowen decreased their price target on Jack in the Box from $59.00 to $57.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group started coverage on Jack in the Box in a research report on Thursday, June 13th. They set a “sell” rating and a $55.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jack in the Box has a consensus rating of “Hold” and a consensus target price of $69.35.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at approximately $642,360.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 90,887 shares in the company, valued at approximately $4,693,404.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,348 shares of company stock worth $67,476. Company insiders own 1.60% 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.