Oppenheimer & Co. Inc. Cuts Holdings in Jack in the Box Inc. (JACK)

Oppenheimer & Co. Inc. lessened its stake in Jack in the Box Inc. (NASDAQ:JACK) by 21.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,412 shares of the restaurant operator’s stock after selling 1,521 shares during the period. Oppenheimer & Co. Inc.’s holdings in Jack in the Box were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Jack in the Box by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 61,408 shares of the restaurant operator’s stock valued at $5,227,000 after purchasing an additional 705 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Jack in the Box by 27.7% in the 2nd quarter. First Trust Advisors LP now owns 3,554 shares of the restaurant operator’s stock valued at $303,000 after purchasing an additional 772 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Jack in the Box by 8.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,039 shares of the restaurant operator’s stock valued at $1,110,000 after purchasing an additional 1,050 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of Jack in the Box by 28.0% in the 3rd quarter. Fox Run Management L.L.C. now owns 9,811 shares of the restaurant operator’s stock valued at $822,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Jack in the Box by 6.9% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,856 shares of the restaurant operator’s stock valued at $3,137,000 after purchasing an additional 2,370 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Shares of JACK opened at $80.75 on Friday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.28 and a beta of 0.52. Jack in the Box Inc. has a twelve month low of $75.09 and a twelve month high of $108.55.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Wednesday, August 8th. The restaurant operator reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.12. The business had revenue of $187.98 million during the quarter, compared to analysts’ expectations of $185.05 million. Jack in the Box had a net margin of 13.10% and a negative return on equity of 26.21%. The firm’s revenue for the quarter was down 23.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 EPS. As a group, equities research analysts expect that Jack in the Box Inc. will post 3.89 earnings per share for the current fiscal year.

In other Jack in the Box news, Director David Goebel sold 1,849 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $83.58, for a total transaction of $154,539.42. Following the completion of the sale, the director now owns 18,396 shares of the company’s stock, valued at approximately $1,537,537.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul D. Melancon sold 1,125 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $90.00, for a total transaction of $101,250.00. Following the sale, the senior vice president now directly owns 5,002 shares of the company’s stock, valued at approximately $450,180. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

A number of brokerages have recently issued reports on JACK. ValuEngine raised shares of Jack in the Box from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. UBS Group upped their price objective on shares of Jack in the Box from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Cowen reaffirmed a “hold” rating and issued a $94.00 price objective on shares of Jack in the Box in a research note on Thursday, August 9th. BidaskClub raised shares of Jack in the Box from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus cut their price objective on shares of Jack in the Box from $93.00 to $88.00 and set a “reduce” rating for the company in a research note on Monday, October 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $99.46.

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About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of April 15, 2018, it operated and franchised 2,245 Jack in the Box restaurants primarily in the western and southern United States and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

See Also: Fundamental Analysis and Individual Investors

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Institutional Ownership by Quarter for Jack in the Box (NASDAQ:JACK)

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