Morgan Stanley Cuts Jack in the Box (NASDAQ:JACK) Price Target to $45.00

Jack in the Box (NASDAQ:JACK) had its target price reduced by Morgan Stanley from $53.00 to $45.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

A number of other equities analysts also recently commented on JACK. Loop Capital cut their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Barclays lifted their price objective on Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Guggenheim cut their target price on Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Finally, Bank of America upped their price objective on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.88.

Jack in the Box Price Performance

NASDAQ:JACK opened at $39.21 on Tuesday. The firm has a market capitalization of $738.32 million, a PE ratio of -20.11, a price-to-earnings-growth ratio of 1.27 and a beta of 1.94. The business’s fifty day moving average price is $43.13 and its 200 day moving average price is $47.04. Jack in the Box has a 12 month low of $36.36 and a 12 month high of $80.99.

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Thursday, December 12th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.49%. Jack in the Box’s dividend payout ratio (DPR) is -90.26%.

Insider Activity

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of Jack in the Box stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the completion of the transaction, the senior vice president now owns 16,815 shares of the company’s stock, valued at $681,343.80. The trade was a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 2,343 shares of company stock worth $100,601. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Jack in the Box

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its position in Jack in the Box by 6.5% in the second quarter. Envestnet Asset Management Inc. now owns 98,975 shares of the restaurant operator’s stock worth $5,042,000 after purchasing an additional 6,064 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Jack in the Box in the 2nd quarter valued at approximately $509,000. Sei Investments Co. grew its position in Jack in the Box by 46.6% in the 2nd quarter. Sei Investments Co. now owns 13,414 shares of the restaurant operator’s stock worth $683,000 after purchasing an additional 4,266 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Jack in the Box by 70.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 23,648 shares of the restaurant operator’s stock valued at $1,205,000 after acquiring an additional 9,750 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Jack in the Box by 6.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,686 shares of the restaurant operator’s stock valued at $2,174,000 after purchasing an additional 2,598 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

About Jack in the Box

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.