Jack in the Box (NASDAQ:JACK) Price Target Cut to $57.00 by Analysts at Truist Financial

Jack in the Box (NASDAQ:JACK) had its price target trimmed by Truist Financial from $70.00 to $57.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Loop Capital cut their target price on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Oppenheimer restated an “outperform” rating and issued a $60.00 target price on shares of Jack in the Box in a research report on Thursday, November 21st. UBS Group cut their target price on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Finally, Northcoast Research cut Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Jack in the Box presently has a consensus rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Trading Up 0.9 %

Shares of NASDAQ JACK opened at $47.95 on Friday. The stock has a 50 day simple moving average of $46.44 and a 200-day simple moving average of $50.11. The company has a market cap of $902.90 million, a PE ratio of -24.59, a P/E/G ratio of 1.34 and a beta of 1.93. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio (DPR) is currently -90.26%.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jack in the Box

Hedge funds have recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new position in shares of Jack in the Box in the second quarter worth $3,311,000. Aigen Investment Management LP increased its stake in shares of Jack in the Box by 238.5% in the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock worth $1,018,000 after acquiring an additional 15,409 shares during the last quarter. Access Investment Management LLC acquired a new position in shares of Jack in the Box in the third quarter worth $1,475,000. Allspring Global Investments Holdings LLC increased its stake in shares of Jack in the Box by 26.2% in the second 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 last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Jack in the Box by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after purchasing an additional 18,874 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

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.