Scopus Asset Management L.P. acquired a new position in shares of Jack in the Box Inc. (NASDAQ:JACK) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 550,000 shares of the restaurant operator’s stock, valued at approximately $60,379,000. Scopus Asset Management L.P. owned about 2.47% of Jack in the Box as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in JACK. D. E. Shaw & Co. Inc. increased its position in Jack in the Box by 52.8% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 208,624 shares of the restaurant operator’s stock worth $22,903,000 after purchasing an additional 72,133 shares during the period. Amundi Asset Management US Inc. raised its position in Jack in the Box by 107.8% in the first quarter. Amundi Asset Management US Inc. now owns 90,264 shares of the restaurant operator’s stock worth $9,917,000 after acquiring an additional 46,833 shares in the last quarter. Greenlight Capital Inc. raised its position in Jack in the Box by 48.6% in the first quarter. Greenlight Capital Inc. now owns 179,800 shares of the restaurant operator’s stock worth $19,738,000 after acquiring an additional 58,800 shares in the last quarter. FORA Capital LLC acquired a new stake in Jack in the Box in the first quarter valued at $353,000. Finally, California State Teachers Retirement System grew its stake in shares of Jack in the Box by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 34,625 shares of the restaurant operator’s stock worth $3,801,000 after purchasing an additional 393 shares during the period.
In other Jack in the Box news, Director Michael W. Murphy sold 1,319 shares of the company’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $115.74, for a total value of $152,661.06. Following the transaction, the director now owns 66,808 shares of the company’s stock, valued at $7,732,357.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Darin S. Harris sold 524 shares of the business’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $121.50, for a total transaction of $63,666.00. Following the sale, the chief executive officer now owns 22,780 shares in the company, valued at approximately $2,767,770. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, May 11th. The restaurant operator reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.23. The business had revenue of $257.22 million for the quarter, compared to analyst estimates of $248.04 million. Jack in the Box had a negative return on equity of 19.33% and a net margin of 14.38%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. Equities analysts expect that Jack in the Box Inc. will post 6.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 11th. Stockholders of record on Wednesday, May 26th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Tuesday, May 25th. This is an increase from Jack in the Box’s previous quarterly dividend of $0.40. Jack in the Box’s dividend payout ratio (DPR) is currently 37.85%.
A number of research firms recently commented on JACK. Wells Fargo & Company decreased their price objective on shares of Jack in the Box from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, May 12th. Truist Securities raised their price objective on Jack in the Box from $120.00 to $131.00 and gave the company a “buy” rating in a research note on Thursday, May 13th. Oppenheimer boosted their target price on Jack in the Box from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 27th. Stifel Nicolaus raised their price target on Jack in the Box from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price objective on shares of Jack in the Box from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, May 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.00.
About Jack in the Box
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of September 27, 2020, it operated and franchised 2,241 Jack in the Box quick-service restaurants primarily in the western and southern United States, including one in Guam. The company was founded in 1951 and is headquartered in San Diego, California.
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