Clearline Capital LP Boosts Stake in Jack in the Box Inc. (NASDAQ:JACK)

Clearline Capital LP lifted its holdings in shares of Jack in the Box Inc. (NASDAQ:JACK) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 260,730 shares of the restaurant operator’s stock after acquiring an additional 10,304 shares during the quarter. Clearline Capital LP’s holdings in Jack in the Box were worth $12,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in Jack in the Box by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after buying an additional 358 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Jack in the Box by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after buying an additional 503 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Jack in the Box by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after buying an additional 644 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Jack in the Box during the 3rd quarter worth about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Jack in the Box by 172.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after acquiring an additional 1,354 shares during the period. 99.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Northcoast Research lowered shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Bank of America increased their target price on shares of Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a research note on Friday. Truist Financial reduced their price objective on Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Royal Bank of Canada lowered their target price on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Price Performance

Shares of JACK opened at $48.85 on Monday. Jack in the Box Inc. has a 1-year low of $40.84 and a 1-year high of $86.20. The stock has a market cap of $919.89 million, a PE ratio of -25.05, a price-to-earnings-growth ratio of 1.60 and a beta of 1.93. The firm has a fifty day moving average price of $46.68 and a 200 day moving average price of $49.97.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s payout ratio is currently -90.26%.

Jack in the Box 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.