Arrowstreet Capital Limited Partnership Raises Stake in Jack in the Box Inc. (NASDAQ:JACK)

Arrowstreet Capital Limited Partnership boosted its holdings in Jack in the Box Inc. (NASDAQ:JACK) by 178.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 196,740 shares of the restaurant operator’s stock after purchasing an additional 126,101 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Jack in the Box were worth $8,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of Jack in the Box by 3.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator’s stock worth $30,244,000 after acquiring an additional 25,881 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Jack in the Box by 12.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,361 shares of the restaurant operator’s stock worth $18,170,000 after purchasing an additional 47,851 shares during the period. Barclays PLC increased its holdings in Jack in the Box by 70.9% in the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock valued at $10,060,000 after purchasing an additional 89,649 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Jack in the Box in the fourth quarter valued at about $7,655,000. Finally, Manning & Napier Advisors LLC lifted its stake in shares of Jack in the Box by 22.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 104,382 shares of the restaurant operator’s stock worth $4,346,000 after purchasing an additional 19,382 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Jack in the Box Stock Down 5.4 %

Shares of NASDAQ JACK opened at $24.35 on Monday. The stock’s 50 day moving average price is $35.26 and its two-hundred day moving average price is $41.32. Jack in the Box Inc. has a 52-week low of $23.21 and a 52-week high of $62.26. The stock has a market capitalization of $459.19 million, a P/E ratio of -12.49, a PEG ratio of 1.29 and a beta of 1.81.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings results on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.21. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The business had revenue of $469.44 million during the quarter, compared to the consensus estimate of $470.47 million. On average, analysts anticipate that Jack in the Box Inc. will post 5.33 EPS for the current year.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th will be given a $0.44 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 7.23%. Jack in the Box’s payout ratio is currently -82.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial lowered their target price on Jack in the Box from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Barclays lowered their price objective on shares of Jack in the Box from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. TD Securities reissued a “hold” rating and set a $42.00 target price on shares of Jack in the Box in a research report on Wednesday, February 26th. Wedbush lowered shares of Jack in the Box from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $50.00 to $40.00 in a report on Friday, February 21st. Finally, UBS Group dropped their price target on shares of Jack in the Box from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Jack in the Box has an average rating of “Hold” and an average target price of $49.25.

About Jack in the Box

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.