Access Investment Management LLC Sells 142,255 Shares of Jack In The Box Inc. $JACK

Access Investment Management LLC reduced its holdings in Jack In The Box Inc. (NASDAQ:JACK) by 77.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,455 shares of the restaurant operator’s stock after selling 142,255 shares during the quarter. Access Investment Management LLC’s holdings in Jack In The Box were worth $820,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in Jack In The Box by 5.9% in the 1st quarter. Royal Bank of Canada now owns 12,035 shares of the restaurant operator’s stock worth $327,000 after purchasing an additional 671 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Jack In The Box by 206.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,967 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 11,567 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Jack In The Box by 63.8% in the 1st quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator’s stock valued at $4,546,000 after purchasing an additional 65,142 shares during the period. GAMMA Investing LLC lifted its stake in shares of Jack In The Box by 165.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,341 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 836 shares during the period. Finally, Farther Finance Advisors LLC bought a new stake in shares of Jack In The Box during the third quarter valued at approximately $65,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays increased their price objective on Jack In The Box from $15.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Morgan Stanley lowered their price target on shares of Jack In The Box from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Zacks Research raised shares of Jack In The Box from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Sanford C. Bernstein set a $20.00 target price on shares of Jack In The Box in a research note on Wednesday, January 7th. Finally, Oppenheimer lowered their target price on shares of Jack In The Box from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.20.

Jack In The Box Trading Up 1.8%

Shares of JACK stock opened at $20.97 on Friday. Jack In The Box Inc. has a 12-month low of $13.99 and a 12-month high of $44.15. The stock has a market capitalization of $400.53 million, a P/E ratio of -4.91, a P/E/G ratio of 1.04 and a beta of 1.13. The firm’s 50 day moving average is $20.31 and its 200 day moving average is $19.21.

Jack In The Box (NASDAQ:JACK) last posted its earnings results on Wednesday, November 19th. The restaurant operator reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). The firm had revenue of $326.19 million during the quarter, compared to the consensus estimate of $324.23 million. Jack In The Box had a negative net margin of 5.51% and a negative return on equity of 9.23%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. As a group, equities analysts predict that Jack In The Box Inc. will post 5.33 earnings per share for the current year.

Insider Activity at Jack In The Box

In other Jack In The Box news, SVP Richard D. Cook sold 1,787 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $19.08, for a total value of $34,095.96. Following the completion of the transaction, the senior vice president directly owned 27,193 shares in the company, valued at $518,842.44. This represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Carl Mount sold 1,393 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $19.00, for a total transaction of $26,467.00. Following the completion of the transaction, the senior vice president directly owned 19,300 shares of the company’s stock, valued at $366,700. This represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,616 shares of company stock worth $249,874 in the last quarter. 1.40% of the stock is currently owned by insiders.

About Jack In The Box

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.