Victory Capital Management Inc. Sells 28,290 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Victory Capital Management Inc. lessened its position in Jack in the Box Inc. (NASDAQ:JACK - Free Report) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,377 shares of the restaurant operator's stock after selling 28,290 shares during the period. Victory Capital Management Inc. owned about 2.77% of Jack in the Box worth $24,637,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Jack in the Box by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator's stock valued at $33,156,000 after acquiring an additional 85,461 shares during the period. Clearline Capital LP raised its position in shares of Jack in the Box by 136.7% in the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator's stock valued at $12,757,000 after purchasing an additional 144,631 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Jack in the Box by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator's stock worth $12,505,000 after buying an additional 18,874 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Jack in the Box by 10.2% in the second quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator's stock valued at $12,266,000 after acquiring an additional 22,226 shares in the last quarter. Finally, Emerald Advisers LLC increased its stake in Jack in the Box by 2.9% during the 3rd quarter. Emerald Advisers LLC now owns 200,067 shares of the restaurant operator's stock worth $9,311,000 after acquiring an additional 5,582 shares during the period. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Jack in the Box Price Performance

NASDAQ:JACK traded up $1.67 on Monday, reaching $46.43. 475,134 shares of the company's stock were exchanged, compared to its average volume of 506,740. The stock has a fifty day simple moving average of $46.00 and a 200-day simple moving average of $50.44. Jack in the Box Inc. has a 52 week low of $40.84 and a 52 week high of $86.20. The firm has a market cap of $888.21 million, a price-to-earnings ratio of -23.49, a P/E/G ratio of 0.70 and a beta of 1.93.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, August 30th. Jack in the Box's payout ratio is currently -88.44%.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on JACK. Piper Sandler decreased their price target on Jack in the Box from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Wedbush reduced their price target on shares of Jack in the Box from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Monday. Bank of America boosted their price objective on Jack in the Box from $72.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Truist Financial lowered their target price on shares of Jack in the Box from $83.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their target price on Jack in the Box from $55.00 to $47.00 and set a "sell" rating on the stock in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $62.81.

Jack in the Box 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.