Comerica Bank Sells 450 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Comerica Bank lessened its position in Jack in the Box Inc. (NASDAQ:JACK) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,383 shares of the restaurant operator’s stock after selling 450 shares during the period. Comerica Bank’s holdings in Jack in the Box were worth $224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of Jack in the Box by 96.7% in the 4th quarter. Quadrant Capital Group LLC now owns 899 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 442 shares during the period. KBC Group NV lifted its position in shares of Jack in the Box by 99.5% in the 4th quarter. KBC Group NV now owns 1,235 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 616 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Jack in the Box by 168.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,558 shares of the restaurant operator’s stock worth $65,000 after purchasing an additional 978 shares during the period. R Squared Ltd purchased a new stake in shares of Jack in the Box in the 4th quarter worth about $72,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Jack in the Box in the 4th quarter worth about $137,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JACK has been the subject of a number of recent research reports. Truist Financial lowered their price target on shares of Jack in the Box from $57.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wedbush cut 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 research report on Friday, February 21st. Royal Bank of Canada lowered their price target on shares of Jack in the Box from $45.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. StockNews.com raised shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird lowered their price target on shares of Jack in the Box from $34.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.50.

Jack in the Box Trading Down 1.3%

Shares of JACK stock opened at $23.75 on Friday. Jack in the Box Inc. has a 12 month low of $22.01 and a 12 month high of $60.73. The stock has a market cap of $447.88 million, a P/E ratio of -12.18, a P/E/G ratio of 1.29 and a beta of 1.35. The company 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 (NASDAQ:JACK) last posted its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The business 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%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, equities analysts forecast that Jack in the Box Inc. will post 5.33 earnings per share for the current year.

Jack in the Box Dividend Announcement

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

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.