Jack in the Box (NASDAQ:JACK) Given New $65.00 Price Target at Royal Bank of Canada

Jack in the Box (NASDAQ:JACK) had its price objective trimmed by Royal Bank of Canada from $70.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

Several other analysts have also issued reports on JACK. StockNews.com lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Guggenheim reduced their price target on Jack in the Box from $95.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. Northcoast Research downgraded Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Loop Capital cut their target price on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group lowered their price target on shares of 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box has a consensus rating of “Hold” and an average target price of $62.00.

Jack in the Box Trading Down 1.0 %

Shares of JACK traded down $0.48 during mid-day trading on Thursday, reaching $47.32. The company’s stock had a trading volume of 91,416 shares, compared to its average volume of 513,653. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20. The company’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $50.27. The stock has a market cap of $905.23 million, a PE ratio of -24.00, a P/E/G ratio of 1.06 and a beta of 1.93.

Jack in the Box Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio is presently -88.44%.

Insider Activity at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jack in the Box

Several large investors have recently modified their holdings of JACK. Barclays PLC grew its position in Jack in the Box by 70.9% during the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock valued at $10,060,000 after purchasing an additional 89,649 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Jack in the Box by 20.3% in the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after buying an additional 819 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Jack in the Box during the third quarter valued at approximately $429,000. EP Wealth Advisors LLC bought a new stake in shares of Jack in the Box during the third quarter valued at approximately $372,000. Finally, Stifel Financial Corp raised its holdings in Jack in the Box by 111.6% in the 3rd quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock worth $3,802,000 after acquiring an additional 43,086 shares during the last quarter. Hedge funds and other 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.