Seven Eight Capital LP Has $512,000 Stock Holdings in Jack in the Box Inc. (NASDAQ:JACK)

Seven Eight Capital LP reduced its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 37.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,059 shares of the restaurant operator’s stock after selling 5,944 shares during the quarter. Seven Eight Capital LP owned about 0.05% of Jack in the Box worth $512,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in shares of Jack in the Box by 6.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 98,975 shares of the restaurant operator’s stock valued at $5,042,000 after acquiring an additional 6,064 shares in the last quarter. Headlands Technologies LLC grew its holdings in Jack in the Box by 347.7% in the second quarter. Headlands Technologies LLC now owns 6,349 shares of the restaurant operator’s stock worth $323,000 after purchasing an additional 4,931 shares during the period. Quest Partners LLC increased its stake in Jack in the Box by 39.4% in the second quarter. Quest Partners LLC now owns 14,095 shares of the restaurant operator’s stock valued at $718,000 after purchasing an additional 3,986 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after purchasing an additional 403,423 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Jack in the Box during the 2nd quarter worth about $1,070,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Jack in the Box Stock Down 2.2 %

Jack in the Box stock opened at $44.16 on Monday. The firm has a 50 day moving average price of $51.11 and a 200-day moving average price of $55.57. Jack in the Box Inc. has a twelve month low of $40.84 and a twelve month high of $86.20. The company has a market capitalization of $856.26 million, a P/E ratio of 7.77, a P/E/G ratio of 0.67 and a beta of 1.95.

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

Jack in the Box Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio is currently 30.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Oppenheimer dropped their price target on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. TD Cowen reaffirmed a “hold” rating and set a $57.00 target price on shares of Jack in the Box in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Piper Sandler lowered their price objective on shares of Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group reduced their price objective on shares of Jack in the Box from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.35.

Insider Buying and Selling at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated 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 owns 13,201 shares in the company, valued at $642,360.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brian M. Scott sold 696 shares of the firm’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 of the company’s stock, valued at approximately $642,360.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were 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 approximately $4,693,404.68. The disclosure for this sale can be found here. 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.