Municipal Employees Retirement System of Michigan Sells 2,860 Shares of Jack In The Box Inc. (NASDAQ:JACK)

Municipal Employees Retirement System of Michigan cut its position in Jack In The Box Inc. (NASDAQ:JACK) by 19.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,050 shares of the restaurant operator’s stock after selling 2,860 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Jack In The Box were worth $1,187,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of Jack In The Box by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 55,026 shares of the restaurant operator’s stock worth $6,143,000 after buying an additional 738 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Jack In The Box by 4.3% in the first quarter. Capstone Asset Management Co. now owns 4,100 shares of the restaurant operator’s stock worth $417,000 after buying an additional 170 shares in the last quarter. Legato Capital Management LLC increased its position in shares of Jack In The Box by 10,072.0% in the first quarter. Legato Capital Management LLC now owns 98,974 shares of the restaurant operator’s stock worth $973,000 after buying an additional 98,001 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Jack In The Box by 1.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,152 shares of the restaurant operator’s stock worth $117,000 after buying an additional 16 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Jack In The Box by 2.6% in the first quarter. Janney Montgomery Scott LLC now owns 2,626 shares of the restaurant operator’s stock worth $267,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

Jack In The Box Inc. (NASDAQ JACK) opened at 94.68 on Thursday. The stock’s 50 day moving average is $96.12 and its 200 day moving average is $101.28. The firm has a market cap of $2.79 billion, a P/E ratio of 23.40 and a beta of 0.57. Jack In The Box Inc. has a 12-month low of $91.02 and a 12-month high of $113.30.

Jack In The Box (NASDAQ:JACK) last released its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.99 EPS for the quarter, missing the consensus estimate of $1.05 by $0.06. The firm had revenue of $357.80 million for the quarter, compared to analyst estimates of $360.84 million. Jack In The Box had a negative return on equity of 49.06% and a net margin of 8.07%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. On average, equities research analysts expect that Jack In The Box Inc. will post $4.16 EPS for the current year.

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A number of equities analysts have commented on JACK shares. Zacks Investment Research upgraded shares of Jack In The Box from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Jefferies Group LLC reiterated a “buy” rating on shares of Jack In The Box in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $125.00 target price on shares of Jack In The Box in a report on Friday, May 12th. Cowen and Company reiterated a “hold” rating and issued a $100.00 target price on shares of Jack In The Box in a report on Friday, May 12th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Jack In The Box in a report on Sunday, May 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Jack In The Box currently has an average rating of “Buy” and a consensus target price of $116.23.

In other Jack In The Box news, EVP Phillip H. Rudolph sold 6,908 shares of Jack In The Box stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $103.64, for a total transaction of $715,945.12. Following the transaction, the executive vice president now owns 99,261 shares of the company’s stock, valued at $10,287,410.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Jack In The Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.

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Institutional Ownership by Quarter for Jack In The Box (NASDAQ:JACK)

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