Royal Bank of Canada Cuts Jack in the Box (NASDAQ:JACK) Price Target to $45.00

Jack in the Box (NASDAQ:JACK) had its target price trimmed by Royal Bank of Canada from $55.00 to $45.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus decreased their price objective on Jack in the Box from $52.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, January 10th. Guggenheim decreased their price objective on Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Piper Sandler decreased 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. UBS Group decreased their price objective on Jack in the Box from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Northcoast Research downgraded Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.56.

Jack in the Box Stock Down 0.5 %

Shares of NASDAQ JACK opened at $38.44 on Wednesday. The stock has a market cap of $724.82 million, a PE ratio of -19.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.94. Jack in the Box has a 52-week low of $32.69 and a 52-week high of $76.56. The business has a 50-day moving average price of $39.51 and a 200 day moving average price of $44.42.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.21. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The company had revenue of $469.44 million during the quarter, compared to analysts’ expectations of $470.47 million. Sell-side analysts anticipate that Jack in the Box will post 5.33 earnings per share for the current year.

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Thursday, March 20th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.58%. The ex-dividend date is Thursday, March 20th. Jack in the Box’s payout ratio is currently -90.26%.

Insider Activity at Jack in the Box

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the transaction, the senior vice president now owns 16,815 shares of the company’s stock, valued at approximately $681,343.80. This trade represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 2,190 shares of company stock valued at $92,961 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Several hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its position in Jack in the Box by 2.0% during the fourth quarter. Sei Investments Co. now owns 20,626 shares of the restaurant operator’s stock worth $859,000 after buying an additional 413 shares in the last quarter. Quadrant Capital Group LLC increased its position in Jack in the Box by 96.7% during the fourth quarter. Quadrant Capital Group LLC now owns 899 shares of the restaurant operator’s stock worth $37,000 after buying an additional 442 shares in the last quarter. KBC Group NV increased its position in Jack in the Box by 99.5% during the fourth quarter. KBC Group NV now owns 1,235 shares of the restaurant operator’s stock worth $51,000 after buying an additional 616 shares in the last quarter. GAMMA Investing LLC increased its position in Jack in the Box by 229.7% during the fourth quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock worth $44,000 after buying an additional 735 shares in the last quarter. Finally, MML Investors Services LLC increased its position in Jack in the Box by 20.3% during the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after buying an additional 819 shares in the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Company 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.