Panagora Asset Management Inc. grew its position in Jack in the Box Inc. (NASDAQ:JACK) by 41.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,276 shares of the restaurant operator’s stock after acquiring an additional 4,164 shares during the period. Panagora Asset Management Inc. owned about 0.06% of Jack in the Box worth $1,162,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Jack in the Box in the second quarter worth about $40,000. Acadian Asset Management LLC acquired a new position in shares of Jack in the Box during the 2nd quarter worth about $159,000. Convergence Investment Partners LLC acquired a new position in shares of Jack in the Box during the 2nd quarter worth about $201,000. Envestnet Asset Management Inc. acquired a new position in shares of Jack in the Box during the 2nd quarter worth about $237,000. Finally, Sciencast Management LP acquired a new position in shares of Jack in the Box during the 2nd quarter worth about $279,000.
In other Jack in the Box news, EVP Phillip H. Rudolph sold 2,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $90.00, for a total value of $180,000.00. Following the completion of the sale, the executive vice president now owns 91,357 shares in the company, valued at approximately $8,222,130. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Leonard A. Comma sold 15,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $86.10, for a total transaction of $1,291,500.00. Following the completion of the sale, the chief executive officer now owns 204,552 shares of the company’s stock, valued at approximately $17,611,927.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,080 shares of company stock valued at $3,047,960. 2.30% of the stock is owned by insiders.
JACK stock traded down $1.41 during mid-day trading on Thursday, reaching $87.72. The company’s stock had a trading volume of 18,600 shares, compared to its average volume of 559,695. The stock has a market cap of $2.30 billion, a PE ratio of 23.02, a P/E/G ratio of 1.58 and a beta of 0.22. Jack in the Box Inc. has a fifty-two week low of $70.77 and a fifty-two week high of $90.49. The company’s 50 day moving average is $83.05 and its two-hundred day moving average is $80.80.
Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $222.36 million during the quarter, compared to the consensus estimate of $220.44 million. Jack in the Box had a net margin of 9.78% and a negative return on equity of 18.59%. Jack in the Box’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, research analysts forecast that Jack in the Box Inc. will post 4.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. Jack in the Box’s payout ratio is 42.22%.
Several research analysts recently weighed in on the stock. Telsey Advisory Group upped their price target on shares of Jack in the Box from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. SunTrust Banks upped their price target on shares of Jack in the Box to $108.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. BidaskClub upgraded shares of Jack in the Box from a “hold” rating to a “buy” rating in a research report on Thursday. Goldman Sachs Group assumed coverage on shares of Jack in the Box in a research report on Monday, July 29th. They set a “sell” rating and a $69.00 price target for the company. Finally, Wedbush upgraded shares of Jack in the Box from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $75.00 to $105.00 in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $92.33.
Jack in the Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.
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