Alliancebernstein L.P. raised its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 61.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 86,283 shares of the restaurant operator’s stock after acquiring an additional 32,770 shares during the quarter. Alliancebernstein L.P. owned approximately 0.29% of Jack in the Box worth $8,465,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of Jack in the Box by 597.5% during the fourth quarter. Meeder Asset Management Inc. now owns 1,123 shares of the restaurant operator’s stock worth $110,000 after buying an additional 962 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Jack in the Box during the fourth quarter worth $118,000. Royal Bank of Canada increased its position in shares of Jack in the Box by 9.0% during the second quarter. Royal Bank of Canada now owns 1,274 shares of the restaurant operator’s stock worth $126,000 after buying an additional 105 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Jack in the Box during the third quarter worth $203,000. Finally, Diligent Investors LLC acquired a new stake in shares of Jack in the Box during the third quarter worth $206,000. Hedge funds and other institutional investors own 98.74% of the company’s stock.
In other news, VP Vanessa C. Fox sold 610 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $91.00, for a total value of $55,510.00. Following the completion of the sale, the vice president now owns 2,051 shares in the company, valued at $186,641. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Goebel sold 1,486 shares of the stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $84.68, for a total transaction of $125,834.48. Following the completion of the sale, the director now owns 21,702 shares of the company’s stock, valued at approximately $1,837,725.36. The disclosure for this sale can be found here. Insiders sold 2,596 shares of company stock worth $225,544 over the last ninety days. Insiders own 2.60% of the company’s stock.
Jack in the Box (NASDAQ:JACK) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.17. The business had revenue of $294.50 million for the quarter, compared to analyst estimates of $284.37 million. Jack in the Box had a net margin of 8.20% and a negative return on equity of 28.27%. Jack in the Box’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. analysts predict that Jack in the Box Inc. will post 3.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Monday, March 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, March 2nd. Jack in the Box’s dividend payout ratio (DPR) is 43.24%.
Several research firms have recently weighed in on JACK. BTIG Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Barclays reiterated an “equal weight” rating and set a $101.00 price objective (up from $100.00) on shares of Jack in the Box in a research report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Cowen reiterated a “hold” rating and set a $94.00 price objective on shares of Jack in the Box in a research report on Friday, February 16th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $105.00 price objective (down from $118.00) on shares of Jack in the Box in a research report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Jack in the Box currently has a consensus rating of “Buy” and a consensus price target of $107.62.
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About Jack in the Box
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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