Rangeley Capital LLC Invests $1.15 Million in Jack in the Box Inc. (NASDAQ:JACK)

Rangeley Capital LLC purchased a new position in Jack in the Box Inc. (NASDAQ:JACK) during the 4th quarter, Holdings Channel reports. The fund purchased 27,500 shares of the restaurant operator’s stock, valued at approximately $1,145,000. Jack in the Box makes up 1.0% of Rangeley Capital LLC’s portfolio, making the stock its 29th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bryce Point Capital LLC purchased a new stake in shares of Jack in the Box in the fourth quarter valued at approximately $562,000. Headlands Technologies LLC raised its position in Jack in the Box by 29.8% during the 4th quarter. Headlands Technologies LLC now owns 5,643 shares of the restaurant operator’s stock valued at $235,000 after purchasing an additional 1,295 shares in the last quarter. IPG Investment Advisors LLC lifted its holdings in shares of Jack in the Box by 59.2% in the 4th quarter. IPG Investment Advisors LLC now owns 440,619 shares of the restaurant operator’s stock worth $18,347,000 after buying an additional 163,834 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Jack in the Box by 178.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 196,740 shares of the restaurant operator’s stock worth $8,192,000 after buying an additional 126,101 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Jack in the Box during the fourth quarter valued at $978,000. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Stock Performance

NASDAQ:JACK opened at $26.53 on Thursday. Jack in the Box Inc. has a one year low of $25.88 and a one year high of $65.58. The stock has a market cap of $500.30 million, a PE ratio of -13.61, a P/E/G ratio of 1.29 and a beta of 1.95. The stock has a 50 day moving average price of $35.83 and a 200 day moving average price of $41.59.

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

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.76 annualized dividend and a dividend yield of 6.63%. Jack in the Box’s dividend payout ratio is presently -82.63%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wedbush lowered shares of Jack in the Box from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $40.00 in a research note on Friday, February 21st. Stifel Nicolaus cut their price objective on shares of Jack in the Box from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, March 24th. Morgan Stanley reduced their price objective on shares of Jack in the Box from $53.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Truist Financial cut their price target on Jack in the Box from $57.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $55.00 price objective on shares of Jack in the Box in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.25.

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.