Seven Eight Capital LP Invests $1.10 Million in Jack in the Box Inc. (NASDAQ:JACK)

Seven Eight Capital LP acquired a new position in shares of Jack in the Box Inc. (NASDAQ:JACK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,003 shares of the restaurant operator’s stock, valued at approximately $1,096,000. Seven Eight Capital LP owned approximately 0.08% of Jack in the Box at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Jack in the Box by 21.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after purchasing an additional 23,770 shares in the last quarter. Headlands Technologies LLC acquired a new position in Jack in the Box in the first quarter worth approximately $97,000. Inspire Investing LLC raised its position in Jack in the Box by 8.8% during the first quarter. Inspire Investing LLC now owns 5,796 shares of the restaurant operator’s stock valued at $397,000 after acquiring an additional 471 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Jack in the Box by 2.5% in the first quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock valued at $779,000 after acquiring an additional 277 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in Jack in the Box in the first quarter worth approximately $359,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

Insider Buying and Selling at Jack in the Box

In other news, CEO Darin S. Harris sold 598 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the completion of the transaction, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 800 shares of company stock valued at $41,514 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Jack in the Box Price Performance

Shares of NASDAQ JACK traded down $0.55 during mid-day trading on Wednesday, hitting $55.65. The company had a trading volume of 471,383 shares, compared to its average volume of 485,701. Jack in the Box Inc. has a 12 month low of $46.10 and a 12 month high of $99.56. The firm has a market cap of $1.08 billion, a P/E ratio of 9.77, a PEG ratio of 0.72 and a beta of 1.91. The business’s 50-day simple moving average is $52.74 and its 200-day simple moving average is $63.30.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The firm had revenue of $365.40 million during the quarter, compared to analysts’ expectations of $369.53 million. During the same quarter in the prior year, the firm posted $1.47 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Jack in the Box Inc. will post 6.29 EPS for the current year.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.16%. Jack in the Box’s dividend payout ratio is currently 30.99%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on JACK shares. Oppenheimer cut their price target on shares of Jack in the Box from $98.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Barclays reduced their price target on Jack in the Box from $80.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price objective on shares of Jack in the Box in a report on Friday, June 7th. Loop Capital reduced their target price on Jack in the Box from $118.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, TD Cowen reiterated a “hold” rating and set a $59.00 price target on shares of Jack in the Box in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.17.

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.