TD Cowen Trims Jack in the Box (NASDAQ:JACK) Target Price to $50.00

Jack in the Box (NASDAQ:JACK - Free Report) had its price objective cut by TD Cowen from $57.00 to $50.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the restaurant operator's stock.

A number of other equities analysts also recently weighed in on the company. Wedbush dropped their target price on Jack in the Box from $68.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Oppenheimer dropped their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Truist Financial lowered their price target 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. UBS Group dropped their price target on shares of Jack in the Box from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Friday, October 4th. Finally, Piper Sandler reduced their price objective on Jack in the Box from $60.00 to $56.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Jack in the Box currently has a consensus rating of "Hold" and a consensus target price of $65.56.

Jack in the Box Price Performance

Jack in the Box stock traded up $0.42 during midday trading on Wednesday, reaching $46.71. The stock had a trading volume of 361,815 shares, compared to its average volume of 504,414. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20. The firm has a market cap of $905.71 million, a price-to-earnings ratio of 8.22, a PEG ratio of 0.63 and a beta of 1.94. The firm's fifty day simple moving average is $47.39 and its two-hundred day simple moving average is $52.43.

Jack in the Box (NASDAQ:JACK - Get Free Report) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, topping the consensus estimate of $1.51 by $0.14. The business had revenue of $369.17 million during the quarter, compared to analysts' expectations of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. Jack in the Box's revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 earnings per share. As a group, sell-side analysts predict that Jack in the Box will post 6.22 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.77%. Jack in the Box's dividend payout ratio (DPR) is presently 30.99%.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares of the company's stock, valued at approximately $642,360.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in shares of Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator's stock worth $163,000 after purchasing an additional 179 shares during the period. Bridge City Capital LLC raised its holdings in Jack in the Box by 3.4% in the 1st quarter. Bridge City Capital LLC now owns 31,951 shares of the restaurant operator's stock valued at $2,188,000 after acquiring an additional 1,046 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Jack in the Box by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 115,564 shares of the restaurant operator's stock worth $7,914,000 after acquiring an additional 2,315 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Jack in the Box by 6.3% in the 1st quarter. BNP Paribas Financial Markets now owns 17,581 shares of the restaurant operator's stock worth $1,204,000 after acquiring an additional 1,039 shares during the period. Finally, Capstone Investment Advisors LLC grew its holdings in shares of Jack in the Box by 111.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 34,022 shares of the restaurant operator's stock worth $2,330,000 after purchasing an additional 17,934 shares in the last quarter. Institutional investors own 99.79% of the company's stock.

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.