Jack in the Box Inc. (NASDAQ:JACK) CEO Darin S. Harris Sells 743 Shares of Stock

Jack in the Box Inc. (NASDAQ:JACKGet Rating) CEO Darin S. Harris sold 743 shares of the stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $57.42, for a total transaction of $42,663.06. Following the sale, the chief executive officer now owns 36,778 shares in the company, valued at approximately $2,111,792.76. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Jack in the Box stock traded up $1.93 during midday trading on Thursday, hitting $58.98. 348,257 shares of the stock were exchanged, compared to its average volume of 470,416. Jack in the Box Inc. has a 52-week low of $56.03 and a 52-week high of $122.35. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.72. The business’s 50-day moving average price is $74.66 and its 200-day moving average price is $83.25.

Jack in the Box (NASDAQ:JACKGet Rating) last released its quarterly earnings results on Thursday, May 26th. The restaurant operator reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.20). Jack in the Box had a negative return on equity of 18.18% and a net margin of 10.37%. The firm had revenue of $322.29 million for the quarter, compared to analysts’ expectations of $340.81 million. During the same quarter last year, the firm posted $1.48 earnings per share. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, analysts predict that Jack in the Box Inc. will post 5.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Tuesday, June 7th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Monday, June 6th. Jack in the Box’s payout ratio is 30.29%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Jack in the Box by 36.3% in the first quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock valued at $306,789,000 after acquiring an additional 874,419 shares during the last quarter. Vanguard Group Inc. boosted its stake in Jack in the Box by 10.1% in the first quarter. Vanguard Group Inc. now owns 2,254,354 shares of the restaurant operator’s stock valued at $210,580,000 after acquiring an additional 207,183 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Jack in the Box in the fourth quarter valued at about $106,700,000. Capital World Investors purchased a new position in Jack in the Box in the first quarter valued at about $98,706,000. Finally, Westwood Holdings Group Inc. boosted its stake in Jack in the Box by 45.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 938,622 shares of the restaurant operator’s stock valued at $82,111,000 after acquiring an additional 292,155 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Several research firms recently issued reports on JACK. StockNews.com began coverage on shares of Jack in the Box in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Wedbush cut their target price on shares of Jack in the Box from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Oppenheimer cut their target price on shares of Jack in the Box from $115.00 to $107.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 24th. Citigroup cut their target price on shares of Jack in the Box from $104.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 1st. Finally, Cowen lowered shares of Jack in the Box from an “outperform” rating to a “market perform” rating and set a $68.00 target price on the stock. in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Jack in the Box has a consensus rating of “Hold” and an average target price of $99.04.

About Jack in the Box (Get Rating)

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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