Comerica Bank Lowers Position in Jack in the Box Inc. (NASDAQ:JACK)

Comerica Bank lessened its stake in Jack in the Box Inc. (NASDAQ:JACK) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,383 shares of the restaurant operator’s stock after selling 450 shares during the quarter. Comerica Bank’s holdings in Jack in the Box were worth $224,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of Jack in the Box by 96.7% in the fourth quarter. Quadrant Capital Group LLC now owns 899 shares of the restaurant operator’s stock worth $37,000 after buying an additional 442 shares in the last quarter. KBC Group NV raised its stake in Jack in the Box by 99.5% during the fourth quarter. KBC Group NV now owns 1,235 shares of the restaurant operator’s stock valued at $51,000 after purchasing an additional 616 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Jack in the Box by 168.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,558 shares of the restaurant operator’s stock valued at $65,000 after purchasing an additional 978 shares in the last quarter. R Squared Ltd purchased a new stake in Jack in the Box during the fourth quarter valued at $72,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Jack in the Box during the fourth quarter valued at $137,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Stock Performance

JACK stock opened at $23.75 on Friday. The firm has a market cap of $447.88 million, a price-to-earnings ratio of -12.18, a PEG ratio of 1.29 and a beta of 1.35. The firm has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $36.80. Jack in the Box Inc. has a one year low of $22.01 and a one year high of $60.73.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Wednesday, May 14th. The restaurant operator reported $1.20 EPS for the quarter, beating the consensus estimate of $1.13 by $0.07. The firm had revenue of $336.70 million during the quarter, compared to analyst estimates of $345.81 million. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. Jack in the Box’s revenue was down 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. As a group, equities analysts predict that Jack in the Box Inc. will post 5.33 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend was Thursday, March 20th. Jack in the Box’s dividend payout ratio is presently -82.63%.

Analysts Set New Price Targets

A number of research analysts have weighed in on JACK shares. StockNews.com upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Robert W. Baird cut their price target on shares of Jack in the Box from $34.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Morgan Stanley cut their price target on shares of Jack in the Box from $53.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. UBS Group cut their price target on shares of Jack in the Box from $44.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Truist Financial cut their price target on shares of Jack in the Box from $57.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.50.

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.