Jack in the Box Inc. (NASDAQ:JACK) Stake Lifted by Headlands Technologies LLC

Headlands Technologies LLC increased its stake in shares of Jack in the Box Inc. (NASDAQ:JACK) by 347.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,349 shares of the restaurant operator’s stock after buying an additional 4,931 shares during the quarter. Headlands Technologies LLC’s holdings in Jack in the Box were worth $323,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC grew its stake in Jack in the Box by 39.4% during the 2nd quarter. Quest Partners LLC now owns 14,095 shares of the restaurant operator’s stock worth $718,000 after buying an additional 3,986 shares during the last quarter. Victory Capital Management Inc. boosted its position in Jack in the Box by 261.5% during the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after acquiring an additional 403,423 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in Jack in the Box during the 2nd quarter worth $1,070,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Jack in the Box by 11.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 503 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Jack in the Box by 26.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after acquiring an additional 130,214 shares during the period. 99.79% of the stock is currently owned by institutional investors.

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 dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Darin S. Harris sold 598 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The disclosure for this sale can be found here. Insiders have sold a total of 1,348 shares of company stock valued at $67,476 in the last three months. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

JACK has been the subject of a number of analyst reports. 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 price target for the company. Piper Sandler reduced their price target on Jack in the Box from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Truist Financial reduced their price target on Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, TD Cowen reiterated a “hold” rating and set a $57.00 price target on shares of Jack in the Box in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Jack in the Box currently has an average rating of “Hold” and an average target price of $69.35.

Jack in the Box Stock Up 3.6 %

Shares of Jack in the Box stock opened at $44.41 on Friday. The stock’s fifty day moving average is $51.58 and its 200-day moving average is $56.84. The firm has a market capitalization of $849.56 million, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.67 and a beta of 1.95. Jack in the Box Inc. has a 12-month low of $40.84 and a 12-month high of $86.20.

Jack in the Box (NASDAQ:JACK) last posted its quarterly 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 firm had revenue of $369.17 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 earnings per share. Analysts expect that Jack in the Box Inc. will post 6.22 EPS for the current year.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, August 30th. Jack in the Box’s payout ratio is 30.99%.

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.