Jack in the Box (NASDAQ:JACK) Sets New 1-Year Low – What’s Next?

Jack in the Box Inc. (NASDAQ:JACK)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $40.72 and last traded at $40.88, with a volume of 361793 shares trading hands. The stock had previously closed at $42.85.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JACK shares. Northcoast Research lowered shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Piper Sandler reduced their target price on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Truist Financial dropped their price target on Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Loop Capital reduced their price objective on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven 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 price target of $59.88.

Jack in the Box Price Performance

The company has a market capitalization of $754.93 million, a P/E ratio of -20.56, a PEG ratio of 1.59 and a beta of 1.92. The company has a 50 day moving average of $47.23 and a 200-day moving average of $49.42.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s dividend payout ratio (DPR) is currently -90.26%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Jack in the Box by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after buying an additional 358 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Jack in the Box by 11.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 503 shares during the period. MML Investors Services LLC raised its position in shares of Jack in the Box by 20.3% in the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 819 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Jack in the Box in the 3rd quarter worth approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Jack in the Box by 172.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after purchasing an additional 1,354 shares during the period. 99.79% of the stock is currently owned by institutional investors.

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.