Jack in the Box (NASDAQ:JACK) Given New $47.00 Price Target at The Goldman Sachs Group

Jack in the Box (NASDAQ:JACK) had its price objective lowered by The Goldman Sachs Group from $55.00 to $47.00 in a research report report published on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the restaurant operator’s stock.

Several other brokerages also recently weighed in on JACK. Royal Bank of Canada lowered their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. TD Cowen reduced their target price on Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. StockNews.com lowered Jack in the Box from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, 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 research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.06.

Jack in the Box Trading Down 0.7 %

JACK opened at $45.46 on Monday. The firm has a market cap of $881.47 million, a price-to-earnings ratio of 8.00, a PEG ratio of 0.63 and a beta of 1.94. Jack in the Box has a 12 month low of $40.84 and a 12 month high of $86.20. The stock has a fifty day moving average price of $47.11 and a 200-day moving average price of $52.06.

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

Jack in the Box Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.87%. Jack in the Box’s payout ratio is 30.99%.

Insider Buying and Selling

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’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 of the company’s stock, valued at approximately $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jack in the Box

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Jack in the Box by 261.5% in the 2nd 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 in the last quarter. Clearline Capital LP raised its stake in shares of Jack in the Box by 136.7% during the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after buying an additional 144,631 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $31,937,000 after buying an additional 130,214 shares in the last quarter. Squarepoint Ops LLC grew its stake in Jack in the Box by 296.5% in the 2nd quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock valued at $6,884,000 after acquiring an additional 101,064 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Jack in the Box in the 2nd quarter worth $3,311,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

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.