Manning & Napier Advisors LLC Buys New Shares in Jack In The Box Inc. $JACK

Manning & Napier Advisors LLC bought a new position in shares of Jack In The Box Inc. (NASDAQ:JACK) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 376,343 shares of the restaurant operator’s stock, valued at approximately $5,950,000.

Several other large investors have also recently bought and sold shares of JACK. BlackRock Inc. bought a new position in Jack In The Box in the second quarter valued at approximately $21,222,000. Marshall Wace LLP increased its position in shares of Jack In The Box by 192.9% during the 3rd quarter. Marshall Wace LLP now owns 744,141 shares of the restaurant operator’s stock worth $14,712,000 after purchasing an additional 490,071 shares during the last quarter. Windward Management LP bought a new stake in shares of Jack In The Box during the 4th quarter worth approximately $7,394,000. Janus Henderson Group PLC bought a new stake in shares of Jack In The Box during the 4th quarter worth approximately $5,591,000. Finally, Nantahala Capital Management LLC boosted its holdings in shares of Jack In The Box by 44.3% in the 4th quarter. Nantahala Capital Management LLC now owns 865,990 shares of the restaurant operator’s stock valued at $16,411,000 after buying an additional 265,990 shares during the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Jack In The Box

In related news, Director Guillermo Diaz, Jr. acquired 5,962 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $11.51 per share, with a total value of $68,622.62. Following the completion of the transaction, the director directly owned 20,692 shares of the company’s stock, valued at $238,164.92. This trade represents a 40.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on JACK shares. Jefferies Financial Group set a $12.50 target price on shares of Jack In The Box in a research note on Thursday, May 14th. Sanford C. Bernstein set a $15.00 price target on shares of Jack In The Box in a research note on Thursday, May 14th. Royal Bank Of Canada lifted their price objective on shares of Jack In The Box from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d)” rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Jack In The Box from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.22.

Jack In The Box Trading Up 3.4%

Shares of NASDAQ JACK opened at $17.83 on Tuesday. The company has a market capitalization of $341.98 million, a P/E ratio of 10.31, a P/E/G ratio of 1.03 and a beta of 1.38. Jack In The Box Inc. has a 12 month low of $8.91 and a 12 month high of $23.86. The stock has a 50 day moving average of $15.68 and a 200-day moving average of $14.37.

Jack In The Box (NASDAQ:JACK) last posted its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Jack In The Box had a negative return on equity of 6.33% and a net margin of 2.84%.The business had revenue of $257.66 million for the quarter, compared to analysts’ expectations of $264.60 million. During the same quarter in the prior year, the business earned $1.02 EPS. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. Analysts predict that Jack In The Box Inc. will post 3.14 EPS for the current fiscal year.

About Jack In The Box

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.