Jack in the Box (NASDAQ:JACK) Shares Gap Down to $84.95

Shares of Jack in the Box Inc. (NASDAQ:JACKGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $84.95, but opened at $78.00. Jack in the Box shares last traded at $73.01, with a volume of 4,587 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on JACK. The Goldman Sachs Group raised their price objective on Jack in the Box from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Truist Financial reduced their price target on shares of Jack in the Box from $100.00 to $88.00 in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Jack in the Box from $79.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday. Oppenheimer dropped their price objective on shares of Jack in the Box from $107.00 to $92.00 in a research note on Wednesday. Finally, StockNews.com started coverage on shares of Jack in the Box in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Jack in the Box presently has an average rating of “Hold” and an average target price of $86.82.

Jack in the Box Stock Performance

The stock has a market capitalization of $1.52 billion, a P/E ratio of 14.11, a PEG ratio of 0.76 and a beta of 1.66. The business has a fifty day simple moving average of $81.25 and a 200-day simple moving average of $75.16.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, December 6th. Jack in the Box’s payout ratio is 34.51%.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors bought a new position in Jack in the Box in the first quarter worth approximately $98,706,000. BlackRock Inc. lifted its holdings in shares of Jack in the Box by 36.3% in the 1st quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock worth $306,789,000 after purchasing an additional 874,419 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Jack in the Box in the 3rd quarter valued at $55,268,000. Bank of America Corp DE increased its stake in Jack in the Box by 6,023.1% during the 1st quarter. Bank of America Corp DE now owns 556,958 shares of the restaurant operator’s stock valued at $52,025,000 after purchasing an additional 547,862 shares in the last quarter. Finally, Hawk Ridge Capital Management LP raised its holdings in Jack in the Box by 102.6% during the first quarter. Hawk Ridge Capital Management LP now owns 667,623 shares of the restaurant operator’s stock worth $62,363,000 after buying an additional 338,068 shares during the last quarter. 99.09% of the stock is currently owned by institutional investors.

Jack in the Box Company Profile

(Get Rating)

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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