Jack in the Box Inc. (NASDAQ:JACK – Get Rating) – Stock analysts at Wedbush decreased their Q3 2023 earnings estimates for Jack in the Box in a research report issued to clients and investors on Wednesday, May 17th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $1.39 per share for the quarter, down from their previous estimate of $1.41. Wedbush has a “Neutral” rating and a $92.00 price objective on the stock. The consensus estimate for Jack in the Box’s current full-year earnings is $5.90 per share. Wedbush also issued estimates for Jack in the Box’s Q1 2024 earnings at $2.16 EPS.
Jack in the Box (NASDAQ:JACK – Get Rating) last issued its earnings results on Wednesday, May 17th. The restaurant operator reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.27. The business had revenue of $395.70 million during the quarter, compared to analysts’ expectations of $385.44 million. Jack in the Box had a net margin of 8.61% and a negative return on equity of 17.88%. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share.
Jack in the Box Stock Down 2.2 %
JACK opened at $92.69 on Friday. The firm has a 50 day moving average price of $88.58 and a 200-day moving average price of $80.61. Jack in the Box has a twelve month low of $54.80 and a twelve month high of $97.99. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.95 and a beta of 1.64.
Jack in the Box Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.90%. Jack in the Box’s dividend payout ratio is 24.93%.
Insider Buying and Selling
In related news, Director Michael W. Murphy sold 1,390 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $83.26, for a total transaction of $115,731.40. Following the completion of the transaction, the director now owns 68,092 shares in the company, valued at $5,669,339.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Sarah L. Super sold 3,500 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $93.90, for a total transaction of $328,650.00. Following the sale, the senior vice president now owns 6,875 shares of the company’s stock, valued at $645,562.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael W. Murphy sold 1,390 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $83.26, for a total transaction of $115,731.40. Following the sale, the director now directly owns 68,092 shares in the company, valued at approximately $5,669,339.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,264 shares of company stock worth $570,006. 1.30% of the stock is owned by insiders.
Institutional Investors Weigh In On Jack in the Box
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Jack in the Box by 36.3% during the first quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock valued at $306,789,000 after purchasing an additional 874,419 shares in the last quarter. Vanguard Group Inc. raised its stake in Jack in the Box by 0.4% during the third quarter. Vanguard Group Inc. now owns 2,337,186 shares of the restaurant operator’s stock valued at $173,116,000 after purchasing an additional 10,379 shares in the last quarter. Biglari Capital CORP. raised its stake in shares of Jack in the Box by 8.2% in the first quarter. Biglari Capital CORP. now owns 1,073,883 shares of the restaurant operator’s stock valued at $94,061,000 after acquiring an additional 81,139 shares during the period. Capital World Investors purchased a new stake in shares of Jack in the Box in the first quarter valued at $98,706,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Jack in the Box in the third quarter valued at $55,268,000. Hedge funds and other institutional investors own 99.78% of the company’s stock.
About Jack in the Box
Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.
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