Verition Fund Management LLC Decreases Position in Jack in the Box Inc. (NASDAQ:JACK)

Verition Fund Management LLC decreased its stake in Jack in the Box Inc. (NASDAQ:JACK - Free Report) by 43.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,858 shares of the restaurant operator's stock after selling 22,400 shares during the period. Verition Fund Management LLC owned about 0.15% of Jack in the Box worth $1,343,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Jack in the Box by 13.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator's stock worth $33,156,000 after acquiring an additional 85,461 shares during the period. Victory Capital Management Inc. lifted its holdings in Jack in the Box by 261.5% in the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator's stock worth $28,408,000 after buying an additional 403,423 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Jack in the Box by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator's stock valued at $18,081,000 after acquiring an additional 8,038 shares in the last quarter. Clearline Capital LP raised its position in shares of Jack in the Box by 136.7% in the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator's stock worth $12,757,000 after acquiring an additional 144,631 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator's stock valued at $12,505,000 after purchasing an additional 18,874 shares in the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JACK shares. UBS Group lowered their target price on shares of Jack in the Box from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, October 4th. Wedbush decreased their target price 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, November 18th. Piper Sandler cut their price target on shares of Jack in the Box from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered Jack in the Box from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Truist Financial reduced their price objective on Jack in the Box from $70.00 to $57.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Jack in the Box currently has an average rating of "Hold" and a consensus target price of $60.38.

Jack in the Box Stock Performance

NASDAQ:JACK traded down $0.22 during mid-day trading on Friday, hitting $47.97. 326,809 shares of the company's stock traded hands, compared to its average volume of 648,837. Jack in the Box Inc. has a twelve month low of $40.84 and a twelve month high of $86.20. The company has a market capitalization of $903.28 million, a P/E ratio of -24.60, a P/E/G ratio of 1.62 and a beta of 1.92. The company has a fifty day moving average of $47.10 and a 200 day moving average of $49.80.

Jack in the Box Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.76 annualized dividend and a dividend yield of 3.67%. Jack in the Box's dividend payout ratio is currently -90.26%.

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.