Principal Financial Group Inc. Trims Stock Holdings in Jack in the Box Inc. (NASDAQ:JACK)

Principal Financial Group Inc. trimmed its holdings in shares of Jack in the Box Inc. (NASDAQ:JACK) by 19.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 90,649 shares of the restaurant operator’s stock after selling 21,366 shares during the quarter. Principal Financial Group Inc.’s holdings in Jack in the Box were worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JACK. Victory Capital Management Inc. lifted 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 during the period. Clearline Capital LP boosted its stake in 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 purchasing an additional 144,631 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Jack in the Box by 26.2% in 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 acquiring an additional 130,214 shares during the last quarter. Squarepoint Ops LLC lifted its position in Jack in the Box by 296.5% during the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock worth $6,884,000 after buying an additional 101,064 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Jack in the Box during the 2nd quarter worth $3,311,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

Jack in the Box Stock Up 4.7 %

NASDAQ:JACK opened at $47.76 on Friday. Jack in the Box Inc. has a 52-week low of $40.84 and a 52-week high of $86.20. The stock’s 50 day moving average price is $46.28 and its 200 day moving average price is $50.27. The company has a market capitalization of $913.55 million, a PE ratio of -24.00, a P/E/G ratio of 1.06 and a beta of 1.93.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s dividend payout ratio is currently -88.44%.

Analyst Ratings Changes

JACK has been the topic of a number of recent analyst reports. Piper Sandler decreased their price objective on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Guggenheim lowered their price objective on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group cut their target price on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Bank of America increased their price target on shares of Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Northcoast Research downgraded Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus target price of $62.00.

Insider Buying and Selling at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction dated 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 in the company, valued at $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

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.