Rangeley Capital LLC Purchases Shares of 27,500 Jack in the Box Inc. (NASDAQ:JACK)

Rangeley Capital LLC bought a new stake in Jack in the Box Inc. (NASDAQ:JACK - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,500 shares of the restaurant operator's stock, valued at approximately $1,145,000. Jack in the Box makes up about 1.0% of Rangeley Capital LLC's investment portfolio, making the stock its 29th largest position. Rangeley Capital LLC owned about 0.15% of Jack in the Box at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Jack in the Box by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 436,361 shares of the restaurant operator's stock worth $18,170,000 after acquiring an additional 47,851 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Jack in the Box during the 4th quarter valued at $7,655,000. Barclays PLC boosted its position in Jack in the Box by 70.9% during the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator's stock worth $10,060,000 after purchasing an additional 89,649 shares during the period. Proficio Capital Partners LLC purchased a new position in Jack in the Box in the fourth quarter valued at about $666,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Jack in the Box by 3.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator's stock worth $30,244,000 after buying an additional 25,881 shares during the period. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

JACK has been the subject of a number of analyst reports. TD Securities restated a "hold" rating and set a $42.00 price objective on shares of Jack in the Box in a research note on Wednesday, February 26th. Wedbush lowered shares of Jack in the Box from an "outperform" rating to a "neutral" rating and cut their target price for the company from $50.00 to $40.00 in a research note on Friday, February 21st. UBS Group decreased their price target on Jack in the Box from $50.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada lowered their price target on Jack in the Box from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial lowered their target price on shares of Jack in the Box from $57.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $47.82.

Jack in the Box Stock Performance

Shares of JACK stock traded down $0.83 on Tuesday, reaching $23.80. 373,736 shares of the company's stock traded hands, compared to its average volume of 622,965. The company has a market capitalization of $448.88 million, a P/E ratio of -12.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.81. Jack in the Box Inc. has a 12-month low of $22.34 and a 12-month high of $62.26. The business's 50 day moving average price is $34.94 and its two-hundred day moving average price is $41.17.

Jack in the Box (NASDAQ:JACK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. 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 business had revenue of $469.44 million during the quarter, compared to analyst estimates of $470.47 million. Research analysts predict that Jack in the Box Inc. will post 5.33 earnings per share for the current year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Thursday, March 20th will be issued a $0.44 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.76 annualized dividend and a yield of 7.39%. Jack in the Box's dividend payout ratio (DPR) is presently -82.63%.

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.