Creative Planning Has $240,000 Position in Jack in the Box Inc. (NASDAQ:JACK)

Creative Planning cut its position in Jack in the Box Inc. (NASDAQ:JACK) by 39.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,166 shares of the restaurant operator’s stock after selling 3,398 shares during the quarter. Creative Planning’s holdings in Jack in the Box were worth $240,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Jack in the Box by 261.5% in the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after buying an additional 403,423 shares during the last quarter. Clearline Capital LP raised its stake in shares of Jack in the Box by 136.7% during the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after acquiring an additional 144,631 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after purchasing an additional 130,214 shares during the period. Squarepoint Ops LLC grew its stake in shares of Jack in the Box by 296.5% in the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock worth $6,884,000 after purchasing an additional 101,064 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Jack in the Box in the second quarter valued at $3,311,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on JACK. Piper Sandler cut their target price on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Wedbush reduced their target price on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. TD Cowen lowered their price target on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Barclays reduced their price objective on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.06.

Jack in the Box Price Performance

Shares of JACK stock opened at $47.33 on Monday. The firm has a 50-day moving average of $46.10 and a 200-day moving average of $50.84. Jack in the Box Inc. has a one year low of $40.84 and a one year high of $86.20. The company has a market cap of $905.23 million, a P/E ratio of -23.78, a P/E/G ratio of 0.74 and a beta of 1.93.

Jack in the Box Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.72%. Jack in the Box’s dividend payout ratio (DPR) is -88.44%.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Jack in the Box Company Profile

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.