Dimensional Fund Advisors LP Purchases 29,772 Shares of Jack in the Box Inc. (NASDAQ:JACK)

Posted by Defense World Staff on Jun 1st, 2023

Dimensional Fund Advisors LP increased its holdings in Jack in the Box Inc. (NASDAQ:JACK – Get Rating) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 526,728 shares of the restaurant operator’s stock after purchasing an additional 29,772 shares during the quarter. Dimensional Fund Advisors LP owned 2.56% of Jack in the Box worth $35,939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Citigroup Inc. raised its position in Jack in the Box by 30.4% in the 4th quarter. Citigroup Inc. now owns 13,213 shares of the restaurant operator’s stock worth $902,000 after purchasing an additional 3,078 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Jack in the Box during the fourth quarter valued at approximately $724,000. UBS Group AG boosted its stake in shares of Jack in the Box by 27.8% during the fourth quarter. UBS Group AG now owns 22,756 shares of the restaurant operator’s stock valued at $1,553,000 after purchasing an additional 4,957 shares during the period. Swiss National Bank grew its holdings in shares of Jack in the Box by 1.8% in the fourth quarter. Swiss National Bank now owns 50,800 shares of the restaurant operator’s stock worth $3,466,000 after purchasing an additional 900 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Jack in the Box by 3.9% in the fourth quarter. Arizona State Retirement System now owns 5,941 shares of the restaurant operator’s stock worth $405,000 after buying an additional 222 shares during the period. Hedge funds and other institutional investors own 99.78% of the company’s stock.

Jack in the Box Trading Up 0.3 %

Shares of JACK stock opened at $86.56 on Thursday. Jack in the Box Inc. has a 12 month low of $54.80 and a 12 month high of $97.99. The stock has a market cap of $1.78 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.88 and a beta of 1.64. The company’s fifty day moving average price is $89.94 and its 200-day moving average price is $80.82.

Jack in the Box (NASDAQ:JACK – Get Rating) last released its earnings results on Wednesday, May 17th. The restaurant operator reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.27. Jack in the Box had a net margin of 8.61% and a negative return on equity of 17.88%. The firm had revenue of $395.70 million during the quarter, compared to analyst estimates of $385.44 million. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue was up 22.8% on a year-over-year basis. On average, sell-side analysts forecast that Jack in the Box Inc. will post 6.06 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, May 30th. This represents a $1.76 annualized dividend and a dividend yield of 2.03%. Jack in the Box’s payout ratio is 24.93%.

Insider Activity

In other news, insider Chad Gretzema sold 521 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $97.99, for a total transaction of $51,052.79. Following the completion of the transaction, the insider now directly owns 10,933 shares in the company, valued at $1,071,324.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Chad Gretzema sold 521 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $97.99, for a total transaction of $51,052.79. Following the sale, the insider now owns 10,933 shares in the company, valued at $1,071,324.67. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael W. Murphy sold 1,390 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $83.26, for a total transaction of $115,731.40. Following the sale, the director now owns 68,092 shares in the company, valued at approximately $5,669,339.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,264 shares of company stock worth $570,006. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Cowen increased their price target on shares of Jack in the Box from $80.00 to $87.00 and gave the company a “market perform” rating in a research report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft raised their target price on Jack in the Box from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 2nd. Stifel Nicolaus upped their price target on Jack in the Box from $86.00 to $98.00 in a research report on Thursday, May 18th. 888 reiterated a “maintains” rating on shares of Jack in the Box in a report on Thursday, May 18th. Finally, Royal Bank of Canada increased their price objective on Jack in the Box from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Jack in the Box currently has an average rating of “Hold” and an average target price of $96.24.

Jack in the Box Company Profile

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Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.