Scopus Asset Management L.P. purchased a new position in shares of Jack in the Box Inc. (NASDAQ:JACK) during the 1st quarter, Holdings Channel.com reports. The fund purchased 550,000 shares of the restaurant operator’s stock, valued at approximately $60,379,000.
A number of other hedge funds have also recently made changes to their positions in JACK. BlackRock Inc. increased its stake in shares of Jack in the Box by 1.5% during the 1st quarter. BlackRock Inc. now owns 2,806,744 shares of the restaurant operator’s stock worth $308,124,000 after purchasing an additional 42,366 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Jack in the Box by 5.2% in the first quarter. Franklin Resources Inc. now owns 999,748 shares of the restaurant operator’s stock valued at $109,753,000 after buying an additional 49,072 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Jack in the Box by 177.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 597,994 shares of the restaurant operator’s stock worth $65,648,000 after acquiring an additional 382,408 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Jack in the Box by 2.4% during the 1st quarter. Nuveen Asset Management LLC now owns 432,598 shares of the restaurant operator’s stock worth $47,490,000 after acquiring an additional 9,986 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Jack in the Box by 5.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 401,897 shares of the restaurant operator’s stock valued at $44,120,000 after acquiring an additional 20,213 shares during the period.
Several research firms have commented on JACK. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $119.00 price objective on shares of Jack in the Box in a report on Monday, April 26th. Morgan Stanley increased their price target on shares of Jack in the Box from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, May 14th. Stifel Nicolaus boosted their price objective on Jack in the Box from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, April 14th. They noted that the move was a valuation call. TheStreet lowered Jack in the Box from a “b” rating to a “c+” rating in a research note on Thursday, May 27th. Finally, Oppenheimer lifted their price target on Jack in the Box from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, April 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Jack in the Box currently has a consensus rating of “Buy” and a consensus target price of $121.00.
Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, May 11th. The restaurant operator reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.23. Jack in the Box had a net margin of 14.38% and a negative return on equity of 19.33%. The business had revenue of $257.22 million for the quarter, compared to analyst estimates of $248.04 million. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts anticipate that Jack in the Box Inc. will post 6.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 11th. Stockholders of record on Wednesday, May 26th were paid a $0.44 dividend. This is a positive change from Jack in the Box’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, May 25th. This represents a $1.76 annualized dividend and a dividend yield of 1.63%. Jack in the Box’s dividend payout ratio (DPR) is presently 37.85%.
In related news, CEO Darin S. Harris sold 524 shares of the company’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $121.50, for a total transaction of $63,666.00. Following the completion of the transaction, the chief executive officer now directly owns 22,780 shares in the company, valued at approximately $2,767,770. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael W. Murphy sold 1,319 shares of the firm’s stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $115.74, for a total transaction of $152,661.06. Following the completion of the sale, the director now owns 66,808 shares in the company, valued at approximately $7,732,357.92. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Jack in the Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of September 27, 2020, it operated and franchised 2,241 Jack in the Box quick-service restaurants primarily in the western and southern United States, including one in Guam. The company was founded in 1951 and is headquartered in San Diego, California.
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