Mutual of America Capital Management LLC Cuts Stock Holdings in Jack in the Box Inc. (NASDAQ:JACK)

Mutual of America Capital Management LLC lessened its holdings in Jack in the Box Inc. (NASDAQ:JACKGet Rating) by 84.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,040 shares of the restaurant operator’s stock after selling 16,350 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Jack in the Box were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in Jack in the Box during the fourth quarter worth $47,866,000. Hawk Ridge Capital Management LP purchased a new stake in shares of Jack in the Box during the 4th quarter worth $28,829,000. Westwood Holdings Group Inc. grew its stake in shares of Jack in the Box by 45.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 938,622 shares of the restaurant operator’s stock worth $82,111,000 after purchasing an additional 292,155 shares during the period. Millennium Management LLC increased its holdings in shares of Jack in the Box by 227.1% in the 4th quarter. Millennium Management LLC now owns 336,678 shares of the restaurant operator’s stock valued at $29,453,000 after purchasing an additional 233,761 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Jack in the Box in the fourth quarter valued at about $9,437,000. 99.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jack in the Box

In related news, CEO Darin S. Harris sold 743 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $57.42, for a total value of $42,663.06. Following the completion of the sale, the chief executive officer now directly owns 36,778 shares in the company, valued at $2,111,792.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 970 shares of company stock worth $60,126. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JACK has been the subject of a number of research analyst reports. Truist Financial dropped their target price on shares of Jack in the Box from $130.00 to $107.00 and set a “buy” rating for the company in a report on Friday, May 27th. Barclays dropped their price objective on Jack in the Box from $78.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, July 21st. Cowen downgraded Jack in the Box from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $115.00 to $68.00 in a research report on Wednesday, June 22nd. Guggenheim dropped their price target on Jack in the Box from $126.00 to $85.00 in a research report on Monday, July 11th. Finally, Cowen downgraded Jack in the Box from an “outperform” rating to a “market perform” rating and set a $68.00 price target for the company. in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Jack in the Box presently has an average rating of “Hold” and a consensus price target of $92.46.

Jack in the Box Trading Up 1.3 %

Jack in the Box stock opened at $70.06 on Tuesday. The stock has a fifty day moving average price of $63.69 and a 200 day moving average price of $78.84. Jack in the Box Inc. has a 52 week low of $54.80 and a 52 week high of $111.10. The firm has a market capitalization of $1.47 billion, a P/E ratio of 12.06, a PEG ratio of 0.69 and a beta of 1.78.

Jack in the Box (NASDAQ:JACKGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The restaurant operator reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.19). Jack in the Box had a negative return on equity of 18.18% and a net margin of 10.37%. The company had revenue of $322.29 million for the quarter, compared to analysts’ expectations of $340.81 million. During the same quarter in the previous year, the company earned $1.48 earnings per share. The company’s revenue was up 25.3% on a year-over-year basis. As a group, equities analysts predict that Jack in the Box Inc. will post 5.89 EPS for the current year.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Tuesday, June 7th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.51%. Jack in the Box’s payout ratio is 30.29%.

About Jack in the Box

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Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Institutional Ownership by Quarter for Jack in the Box (NASDAQ:JACK)

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