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 target price trimmed by Truist Financial from $70.00 to $57.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently issued reports on JACK. StockNews.com upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, November 21st. UBS Group decreased their price target on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Wedbush decreased their price target on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 18th. Finally, The Goldman Sachs Group decreased their price target on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Jack in the Box currently 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 market capitalization 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 1 year low of $40.84 and a 1 year high of $86.20. The firm has a fifty day moving average price of $46.44 and a 200 day moving average price of $50.11.

Jack in the Box Announces Dividend

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 given a $0.44 dividend. 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 presently -90.26%.

Insider Buying and Selling

In other news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were 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 of the company’s stock, valued at approximately $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Several hedge funds have recently modified their holdings of JACK. Victory Capital Management Inc. increased its holdings in shares of Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after buying an additional 403,423 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Jack in the Box during the third quarter worth approximately $11,802,000. Clearline Capital LP increased its holdings in shares of Jack in the Box by 136.7% during the second 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Jack in the Box by 26.2% during the second 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 in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of 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 valued at $6,884,000 after purchasing an additional 101,064 shares during 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.