Mark H. Blankenship Sells 1,000 Shares of Jack in the Box Inc. (NASDAQ:JACK) Stock

Jack in the Box Inc. (NASDAQ:JACK) EVP Mark H. Blankenship sold 1,000 shares of Jack in the Box stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $89.00, for a total transaction of $89,000.00. Following the transaction, the executive vice president now directly owns 22,097 shares in the company, valued at approximately $1,966,633. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of JACK stock traded up $1.50 during trading hours on Tuesday, hitting $89.06. 510,091 shares of the company were exchanged, compared to its average volume of 566,901. The company’s fifty day moving average price is $78.50. Jack in the Box Inc. has a 52-week low of $70.77 and a 52-week high of $91.72. The firm has a market cap of $2.26 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.59 and a beta of 0.30.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Jack in the Box had a net margin of 9.78% and a negative return on equity of 18.59%. The company had revenue of $222.36 million during the quarter, compared to analyst estimates of $220.44 million. During the same quarter last year, the business posted $1.00 EPS. Jack in the Box’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts forecast that Jack in the Box Inc. will post 4.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.80%. Jack in the Box’s payout ratio is currently 42.22%.

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Jack in the Box by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 454,544 shares of the restaurant operator’s stock worth $36,996,000 after purchasing an additional 5,622 shares during the last quarter. Northern Trust Corp increased its stake in shares of Jack in the Box by 0.6% during the 2nd quarter. Northern Trust Corp now owns 438,897 shares of the restaurant operator’s stock worth $35,723,000 after purchasing an additional 2,761 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Jack in the Box by 2.3% during the 1st quarter. OppenheimerFunds Inc. now owns 427,434 shares of the restaurant operator’s stock worth $34,648,000 after purchasing an additional 9,687 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Jack in the Box by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 412,673 shares of the restaurant operator’s stock worth $33,588,000 after purchasing an additional 40,084 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Jack in the Box by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 325,737 shares of the restaurant operator’s stock worth $25,286,000 after purchasing an additional 10,072 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

JACK has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on shares of Jack in the Box from $95.00 to $104.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley set a $89.00 target price on shares of Jack in the Box and gave the stock a “hold” rating in a research report on Friday. Telsey Advisory Group reissued an “outperform” rating and set a $95.00 target price (down previously from $105.00) on shares of Jack in the Box in a research report on Tuesday, April 16th. SunTrust Banks lifted their target price on shares of Jack in the Box to $108.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, ValuEngine raised shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $91.50.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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