Guggenheim Cuts Jack in the Box (NASDAQ:JACK) Price Target to $60.00

Jack in the Box (NASDAQ:JACK) had its target price reduced by Guggenheim from $95.00 to $60.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other research firms also recently weighed in on JACK. Piper Sandler decreased their price objective on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Barclays reduced their price target on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Loop Capital dropped their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. TD Cowen reduced their price objective on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Finally, UBS Group lowered their target price on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Stock Down 0.6 %

JACK opened at $47.50 on Wednesday. The stock’s fifty day moving average is $46.34 and its two-hundred day moving average is $50.21. The company has a market capitalization of $908.68 million, a P/E ratio of -23.87, a PEG ratio of 1.06 and a beta of 1.93. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Jack in the Box

A number of large investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new stake in shares of Jack in the Box in the first quarter worth $425,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Jack in the Box by 4.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after buying an additional 790 shares during the period. MQS Management LLC acquired a new stake in Jack in the Box during the first quarter worth about $260,000. EntryPoint Capital LLC raised its position in Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Jack in the Box by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after acquiring an additional 644 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

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.