Bank of America Corp DE Has $6.02 Million Stake in Jack In The Box Inc. $JACK

Bank of America Corp DE raised its stake in Jack In The Box Inc. (NASDAQ:JACK) by 21.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 622,779 shares of the restaurant operator’s stock after acquiring an additional 108,865 shares during the period. Bank of America Corp DE’s holdings in Jack In The Box were worth $6,022,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Jack In The Box by 5.9% in the 1st quarter. Royal Bank of Canada now owns 12,035 shares of the restaurant operator’s stock valued at $327,000 after purchasing an additional 671 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Jack In The Box by 206.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,967 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 11,567 shares in the last quarter. Woodline Partners LP increased its position in shares of Jack In The Box by 63.8% during the 1st quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator’s stock worth $4,546,000 after purchasing an additional 65,142 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Jack In The Box by 45.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 389,327 shares of the restaurant operator’s stock valued at $7,697,000 after purchasing an additional 121,752 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Jack In The Box by 96.7% during the 3rd quarter. US Bancorp DE now owns 1,420 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 698 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on JACK shares. UBS Group upped their price objective on shares of Jack In The Box from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Barclays cut their target price on shares of Jack In The Box from $23.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 14th. Stifel Nicolaus boosted their target price on Jack In The Box from $10.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Guggenheim lowered Jack In The Box from a “buy” rating to a “neutral” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group set a $12.50 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Jack In The Box presently has a consensus rating of “Hold” and an average price target of $17.22.

Jack In The Box Trading Down 1.4%

Shares of NASDAQ JACK opened at $16.47 on Thursday. Jack In The Box Inc. has a 1-year low of $8.91 and a 1-year high of $23.86. The company has a market cap of $315.89 million, a PE ratio of 9.52, a P/E/G ratio of 1.00 and a beta of 1.38. The company has a 50-day moving average of $15.85 and a two-hundred day moving average of $14.30.

Jack In The Box (NASDAQ:JACK) last released its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 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 analysts’ expectations of $264.60 million. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. Jack In The Box’s revenue was down 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, equities research analysts forecast that Jack In The Box Inc. will post 3.14 earnings per share for the current year.

Jack In The Box Company Profile

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.