Rhumbline Advisers Has $3.07 Million Stock Position in Jack in the Box Inc. (NASDAQ:JACK)

Rhumbline Advisers reduced its holdings in shares of Jack in the Box Inc. (NASDAQ:JACK) by 0.8% in the second quarter, Holdings Channel reports. The institutional investor owned 60,275 shares of the restaurant operator’s stock after selling 484 shares during the period. Rhumbline Advisers’ holdings in Jack in the Box were worth $3,070,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Hussman Strategic Advisors Inc. acquired a new position in shares of Jack in the Box during the second quarter valued at about $1,070,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Jack in the Box by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after purchasing an additional 503 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after purchasing an additional 130,214 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after purchasing an additional 18,874 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Jack in the Box by 15,439.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,128 shares of the restaurant operator’s stock valued at $261,000 after purchasing an additional 5,095 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Jack in the Box Stock Up 1.7 %

JACK opened at $43.63 on Wednesday. The company has a market capitalization of $845.99 million, a price-to-earnings ratio of 7.68, a PEG ratio of 0.67 and a beta of 1.95. The firm has a 50-day moving average price of $51.45 and a 200-day moving average price of $56.41. Jack in the Box Inc. has a twelve month low of $40.84 and a twelve month high of $86.20.

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

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 4.03%. Jack in the Box’s dividend payout ratio is currently 30.99%.

Insider Activity at Jack in the Box

In related news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian M. Scott sold 696 shares of the business’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 transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,348 shares of company stock valued at $67,476. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JACK shares. Bank of America dropped their price target on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada dropped their price target on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group initiated coverage on shares of Jack in the Box in a research report on Thursday, June 13th. They issued a “sell” rating and a $55.00 price objective on the stock. Truist Financial lowered their price objective on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group lowered their price objective on shares of Jack in the Box from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.35.

Jack in the Box 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.