The Goldman Sachs Group Cuts Jack in the Box (NASDAQ:JACK) Price Target to $47.00

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

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Wedbush cut their price target on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Morgan Stanley decreased their price objective on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft cut their target price on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America decreased their price target on Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.06.

Jack in the Box Price Performance

JACK opened at $45.46 on Monday. The firm has a market capitalization of $881.47 million, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94. The company’s 50 day simple moving average is $47.11 and its two-hundred day simple moving average is $52.06. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.14. The firm had revenue of $369.17 million for 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 firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, equities analysts anticipate that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction 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 in the company, valued at approximately $642,360.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Several hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Jack in the Box by 21.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock valued at $9,387,000 after purchasing an additional 23,770 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Jack in the Box in the second quarter valued at $3,311,000. Seven Eight Capital LP acquired a new stake in Jack in the Box in the first quarter valued at $1,096,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $31,937,000 after buying an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Jack in the Box by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after acquiring an additional 18,874 shares in the last quarter. Institutional investors and hedge funds own 99.79% 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.