BlackRock Inc. Makes New $21.22 Million Investment in Jack In The Box Inc. $JACK

BlackRock Inc. acquired a new stake in Jack In The Box Inc. (NASDAQ:JACK) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,342,305 shares of the restaurant operator’s stock, valued at approximately $21,222,000. BlackRock Inc. owned 0.07% of Jack In The Box at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Jack In The Box by 21.2% during the first quarter. Bank of America Corp DE now owns 622,779 shares of the restaurant operator’s stock worth $6,022,000 after purchasing an additional 108,865 shares in the last quarter. Seven Six Capital Management LLC increased its holdings in Jack In The Box by 53.0% in the first quarter. Seven Six Capital Management LLC now owns 181,150 shares of the restaurant operator’s stock valued at $1,752,000 after buying an additional 62,750 shares during the last quarter. Maxi Investments CY Ltd acquired a new stake in Jack In The Box in the fourth quarter valued at $2,263,000. Callodine Capital Management LP raised its stake in Jack In The Box by 3.5% in the first quarter. Callodine Capital Management LP now owns 1,760,470 shares of the restaurant operator’s stock valued at $17,024,000 after buying an additional 59,966 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Jack In The Box by 112.8% during the 1st quarter. Quantinno Capital Management LP now owns 80,678 shares of the restaurant operator’s stock worth $780,000 after buying an additional 42,763 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Jack In The Box from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Jefferies Financial Group set a $12.50 target price on Jack In The Box in a research report on Thursday, May 14th. Royal Bank Of Canada boosted their target price on Jack In The Box from $16.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Oppenheimer lowered their price target on Jack In The Box from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Finally, Stifel Nicolaus increased their price target on shares of Jack In The Box from $10.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.22.

Jack In The Box Price Performance

Shares of JACK opened at $15.86 on Thursday. Jack In The Box Inc. has a 1-year low of $8.91 and a 1-year high of $23.86. The stock has a market cap of $304.19 million, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.93 and a beta of 1.38. The firm has a fifty day moving average price of $16.21 and a 200 day moving average price of $14.12.

Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. The company had revenue of $257.66 million for the quarter, compared to analyst estimates of $264.60 million. Jack In The Box had a negative return on equity of 6.33% and a net margin of 2.84%.The business’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 earnings per share. As a group, equities analysts expect that Jack In The Box Inc. will post 3.14 EPS for the current fiscal year.

Jack In The Box Company Profile

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.