Bank of New York Mellon Corp lessened its position in shares of Jack in the Box Inc. (NASDAQ:JACK) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 384,402 shares of the restaurant operator’s stock after selling 4,632 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.31% of Jack in the Box worth $39,178,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in JACK. Koch Industries Inc. acquired a new stake in Jack in the Box during the 2nd quarter valued at approximately $568,000. Bain Capital Public Equity Management LLC bought a new position in shares of Jack in the Box during the 2nd quarter worth approximately $54,752,000. Janus Henderson Group PLC bought a new position in shares of Jack in the Box during the 2nd quarter worth approximately $53,737,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Jack in the Box by 60.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 850,225 shares of the restaurant operator’s stock worth $86,656,000 after buying an additional 321,825 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Jack in the Box by 215.6% during the 2nd quarter. Wells Fargo & Company MN now owns 221,278 shares of the restaurant operator’s stock worth $21,796,000 after buying an additional 151,164 shares in the last quarter. 99.26% of the stock is owned by institutional investors and hedge funds.
In related news, insider Frances L. Allen sold 530 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $102.71, for a total value of $54,436.30. Following the transaction, the insider now directly owns 10,979 shares in the company, valued at approximately $1,127,653.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is owned by company insiders.
Jack in the Box (NASDAQ:JACK) last issued its earnings results on Wednesday, November 29th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.16). Jack in the Box had a negative return on equity of 30.55% and a net margin of 8.71%. The firm had revenue of $338.75 million during the quarter, compared to the consensus estimate of $341.34 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. Jack in the Box’s revenue for the quarter was down 15.0% on a year-over-year basis. analysts predict that Jack in the Box Inc. will post 4.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, December 1st. Jack in the Box’s dividend payout ratio is currently 36.36%.
A number of equities analysts have issued reports on the company. Wells Fargo & Company restated an “outperform” rating and set a $120.00 price target on shares of Jack in the Box in a report on Thursday, August 10th. Telsey Advisory Group restated a “market perform” rating on shares of Jack in the Box in a report on Thursday, August 10th. Wedbush restated a “buy” rating on shares of Jack in the Box in a report on Friday, August 11th. Cowen restated a “neutral” rating and set a $99.00 price target (down from $105.00) on shares of Jack in the Box in a report on Friday, August 11th. Finally, SunTrust Banks set a $109.00 price target on Jack in the Box and gave the stock a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Jack in the Box has a consensus rating of “Buy” and an average price target of $112.62.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.chaffeybreeze.com/2017/12/08/jack-in-the-box-inc-jack-holdings-trimmed-by-bank-of-new-york-mellon-corp.html.
About Jack in the Box
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.
Want to see what other hedge funds are holding JACK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jack in the Box Inc. (NASDAQ:JACK).
Receive News & Ratings for Jack in the Box Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack in the Box Inc. and related companies with MarketBeat.com's FREE daily email newsletter.