Jack in the Box Inc. (NASDAQ:JACK) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in shares of Jack in the Box Inc. (NASDAQ:JACK) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,200 shares of the restaurant operator’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Jack in the Box were worth $428,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC raised its stake in shares of Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares during the last quarter. Headlands Technologies LLC purchased a new position in Jack in the Box during the 1st quarter worth $97,000. MQS Management LLC purchased a new position in Jack in the Box during the 1st quarter worth $260,000. SG Americas Securities LLC acquired a new stake in shares of Jack in the Box in the 3rd quarter worth $185,000. Finally, Selway Asset Management purchased a new stake in shares of Jack in the Box in the third quarter valued at about $228,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JACK shares. Deutsche Bank Aktiengesellschaft cut 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 report on Wednesday, August 7th. Barclays cut their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. The Goldman Sachs Group decreased their price target on Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research note on Monday, October 21st. Piper Sandler cut their price objective on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Wedbush decreased their target price on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.06.

Jack in the Box Trading Down 2.4 %

Shares of JACK opened at $50.27 on Thursday. The company has a 50-day moving average of $46.12 and a two-hundred day moving average of $51.06. The stock has a market cap of $961.46 million, a P/E ratio of -25.26, a PEG ratio of 0.78 and a beta of 1.93. 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 issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) 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 return on equity of 16.46% and a negative net margin of 2.30%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 EPS. As a group, analysts forecast that Jack in the Box Inc. will post 6.19 EPS for the current fiscal year.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were issued a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.50%. Jack in the Box’s dividend payout ratio (DPR) is -88.44%.

Insider Activity

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the sale, the chief financial officer now owns 13,201 shares in the company, valued at approximately $642,360.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.