IPG Investment Advisors LLC Sells 66,996 Shares of Jack In The Box Inc. $JACK

IPG Investment Advisors LLC reduced its stake in Jack In The Box Inc. (NASDAQ:JACK) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 469,300 shares of the restaurant operator’s stock after selling 66,996 shares during the period. Jack In The Box makes up approximately 1.1% of IPG Investment Advisors LLC’s holdings, making the stock its 24th largest holding. IPG Investment Advisors LLC’s holdings in Jack In The Box were worth $7,420,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. US Bancorp DE boosted its stake in Jack In The Box by 96.7% in the 3rd quarter. US Bancorp DE now owns 1,420 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 698 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Jack In The Box by 322.6% in the 4th quarter. Allworth Financial LP now owns 1,475 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 1,126 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Jack In The Box by 3,604.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,852 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 1,802 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Jack In The Box during the 2nd quarter worth about $30,000. Finally, Public Employees Retirement System of Ohio bought a new position in Jack In The Box during the 2nd quarter valued at about $48,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JACK shares. UBS Group boosted their target price on Jack In The Box from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Wall Street Zen upgraded Jack In The Box from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Oppenheimer reduced their price objective on Jack In The Box from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. The Goldman Sachs Group lowered their target price on Jack In The Box from $17.00 to $12.00 and set a “sell” rating for the company in a research note on Friday, May 15th. Finally, Sanford C. Bernstein set a $15.00 price target on Jack In The Box in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Jack In The Box has a consensus rating of “Hold” and a consensus price target of $17.22.

Jack In The Box Stock Performance

NASDAQ:JACK opened at $14.78 on Thursday. The company has a market cap of $283.48 million, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.91 and a beta of 1.38. The stock’s fifty day moving average price is $16.23 and its two-hundred day moving average price is $13.94. Jack In The Box Inc. has a 52-week low of $8.91 and a 52-week high of $23.86.

Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. The business had revenue of $257.66 million for the quarter, compared to analyst estimates of $264.60 million. Jack In The Box had a negative return on equity of 6.33% and a net margin of 2.84%.The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. On average, equities analysts predict that Jack In The Box Inc. will post 3.14 EPS for the current fiscal year.

About Jack In The Box

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.