Jack in the Box (NASDAQ:JACK) Rating Lowered to “Neutral” at Northcoast Research

Northcoast Research downgraded shares of Jack in the Box (NASDAQ:JACK) from a buy rating to a neutral rating in a research note released on Thursday morning, Marketbeat Ratings reports.

A number of other research firms also recently weighed in on JACK. Deutsche Bank Aktiengesellschaft reduced their price target on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on 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. Truist Financial cut their price objective on Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com downgraded Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, Barclays cut their price objective on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box presently has a consensus rating of “Hold” and an average target price of $63.44.

Jack in the Box Stock Down 3.6 %

NASDAQ:JACK opened at $44.76 on Thursday. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20. The business has a 50 day moving average price of $46.00 and a two-hundred day moving average price of $50.47.

Jack in the Box Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s payout ratio is -88.44%.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in JACK. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Jack in the Box by 21.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after purchasing an additional 23,770 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Jack in the Box in the second quarter worth $3,311,000. Seven Eight Capital LP bought a new position in shares of Jack in the Box in the first quarter worth $1,096,000. Aigen Investment Management LP increased its position in shares of Jack in the Box by 238.5% in the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock worth $1,018,000 after purchasing an additional 15,409 shares during the period. Finally, Access Investment Management LLC bought a new position in shares of Jack in the Box in the third quarter worth $1,475,000. 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.