Jack in the Box (NASDAQ:JACK) Shares Down 5.5% – Here’s Why

Jack in the Box Inc. (NASDAQ:JACK) fell 5.5% during mid-day trading on Monday . The stock traded as low as $42.72 and last traded at $43.01. 312,156 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 514,230 shares. The stock had previously closed at $45.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on JACK shares. Stifel Nicolaus cut their price objective on Jack in the Box from $55.00 to $52.00 and set a “hold” rating for the company in a research report on Monday, December 9th. UBS Group reduced their target price on 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. Truist Financial dropped their price target on Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Barclays upped their price objective on shares of Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Bank of America boosted their price target on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.88.

Jack in the Box Price Performance

The stock’s 50 day moving average price is $47.16 and its two-hundred day moving average price is $49.35. The firm has a market capitalization of $754.93 million, a price-to-earnings ratio of -20.56, a PEG ratio of 1.59 and a beta of 1.92.

Jack in the Box Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be paid a $0.44 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.39%. Jack in the Box’s payout ratio is presently -90.26%.

Institutional Investors Weigh In On Jack in the Box

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aigen Investment Management LP boosted its stake in Jack in the Box by 238.5% during the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock worth $1,018,000 after buying an additional 15,409 shares in the last quarter. Biglari Sardar increased its stake in Jack in the Box by 14.2% in the third quarter. Biglari Sardar now owns 96,717 shares of the restaurant operator’s stock valued at $4,501,000 after acquiring an additional 12,000 shares during the period. Access Investment Management LLC acquired a new position in Jack in the Box in the third quarter worth about $1,475,000. Barclays PLC lifted its stake in Jack in the Box by 70.9% during the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after purchasing an additional 89,649 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $31,937,000 after purchasing an additional 130,214 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.