Bank of New York Mellon Corp Reduces Stock Position in Jack in the Box Inc. (NASDAQ:JACK)

Bank of New York Mellon Corp decreased its position in Jack in the Box Inc. (NASDAQ:JACK) by 31.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 151,525 shares of the restaurant operator’s stock after selling 68,465 shares during the period. Bank of New York Mellon Corp’s holdings in Jack in the Box were worth $6,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invenomic Capital Management LP acquired a new position in Jack in the Box during the 3rd quarter worth $11,802,000. Barclays PLC raised its stake in shares of Jack in the Box by 70.9% in the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after buying an additional 89,649 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Jack in the Box by 191.5% during the third quarter. Point72 Asset Management L.P. now owns 88,000 shares of the restaurant operator’s stock worth $4,096,000 after purchasing an additional 57,810 shares during the period. Stifel Financial Corp raised its position in shares of Jack in the Box by 111.6% during the third quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock worth $3,802,000 after purchasing an additional 43,086 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Jack in the Box by 3.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator’s stock valued at $30,244,000 after buying an additional 25,881 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

Insider Buying and Selling at Jack in the Box

In other news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $40.52, for a total value of $68,397.76. Following the completion of the transaction, the senior vice president now owns 16,815 shares in the company, valued at $681,343.80. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Jack in the Box Stock Up 0.7 %

JACK stock opened at $31.34 on Monday. The business’s fifty day moving average is $38.31 and its 200-day moving average is $43.08. The company has a market cap of $591.01 million, a P/E ratio of -16.07, a price-to-earnings-growth ratio of 1.29 and a beta of 1.95. Jack in the Box Inc. has a twelve month low of $30.76 and a twelve month high of $74.24.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 EPS for the quarter, topping the consensus estimate of $1.71 by $0.21. The business had revenue of $469.44 million for the quarter, compared to the consensus estimate of $470.47 million. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. Research analysts anticipate that Jack in the Box Inc. will post 5.33 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Thursday, March 20th. Jack in the Box’s dividend payout ratio is -82.63%.

Analyst Upgrades and Downgrades

JACK has been the topic of a number of recent research reports. TD Cowen restated a “hold” rating and issued a $50.00 target price on shares of Jack in the Box in a research note on Thursday, November 21st. Truist Financial cut their price objective on Jack in the Box from $57.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus cut 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 reaffirmed a “buy” rating and issued a $55.00 price target on shares of Jack in the Box in a report on Thursday, February 27th. Finally, UBS Group dropped their target price on Jack in the Box from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.56.

Jack in the Box 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.