Jack in the Box (NASDAQ:JACK) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Jack in the Box Inc. (NASDAQ:JACK - Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $33.95, but opened at $37.89. Jack in the Box shares last traded at $39.35, with a volume of 537,515 shares.

The restaurant operator reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.21. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The firm had revenue of $469.44 million during the quarter, compared to analyst estimates of $470.47 million.

Jack in the Box Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.76 annualized dividend and a yield of 4.58%. Jack in the Box's payout ratio is currently -82.63%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen reaffirmed a "hold" rating and set a $50.00 price objective on shares of Jack in the Box in a research note on Thursday, November 21st. Royal Bank of Canada decreased their price target on shares of Jack in the Box from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday. UBS Group lowered their price objective on Jack in the Box from $50.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Wedbush lowered shares of Jack in the Box from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $50.00 to $40.00 in a research note on Friday, February 21st. Finally, Guggenheim reissued a "buy" rating and issued a $55.00 price target on shares of Jack in the Box in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.56.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the sale, the senior vice president now directly owns 16,815 shares of the company's stock, valued at approximately $681,343.80. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 2,190 shares of company stock valued at $92,961. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JACK. Aigen Investment Management LP increased its stake in Jack in the Box by 238.5% in the 3rd quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator's stock worth $1,018,000 after acquiring an additional 15,409 shares during the last quarter. Barclays PLC raised its position in shares of Jack in the Box by 70.9% during the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator's stock valued at $10,060,000 after buying an additional 89,649 shares in the last quarter. Biglari Sardar grew its position in Jack in the Box by 14.2% in the third quarter. Biglari Sardar now owns 96,717 shares of the restaurant operator's stock worth $4,501,000 after acquiring an additional 12,000 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Jack in the Box in the 3rd quarter valued at approximately $1,475,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Jack in the Box by 3.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator's stock valued at $30,244,000 after purchasing an additional 25,881 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company's stock.

Jack in the Box Stock Performance

The company has a market cap of $724.90 million, a PE ratio of -19.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.94. The company has a fifty day moving average of $39.51 and a two-hundred day moving average of $44.42.

About Jack in the Box

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.