1,164,421 Shares in Jack In The Box Inc. $JACK Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1,164,421 Jack In The Box shares valued at approximately $18.4 million, giving it a 6.11% stake. Institutional investors collectively own 99.79% of the company.
• Analysts maintain a predominantly cautious outlook, with a consensus “Hold” rating and an average price target of $17.22; 13 analysts rate the stock Hold, compared with three Buys and two Sells.
• Jack In The Box reported quarterly EPS of $0.96, exceeding estimates of $0.88, but revenue fell 22.6% year over year to $257.66 million, below the $264.60 million consensus estimate.

Bank of America Corp DE bought a new stake in shares of Jack In The Box Inc. (NASDAQ:JACK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,164,421 shares of the restaurant operator's stock, valued at approximately $18,409,000. Bank of America Corp DE owned approximately 6.11% of Jack In The Box at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Biglari Sardar purchased a new position in Jack In The Box during the second quarter valued at $3,171,755. Biglari Capital CORP. acquired a new position in shares of Jack In The Box during the 2nd quarter worth about $26,618,538. Canada Pension Plan Investment Board purchased a new position in Jack In The Box in the 2nd quarter valued at about $280,000. Legal & General Group Plc purchased a new position in Jack In The Box in the 2nd quarter valued at about $30,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Jack In The Box in the 2nd quarter worth about $5,950,000. Institutional investors and hedge funds own 99.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JACK shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $16.00 target price on shares of Jack In The Box in a research report on Thursday, August 13th. Guggenheim cut Jack In The Box from a "buy" rating to a "neutral" rating in a research report on Thursday, May 28th. Citigroup boosted their price target on Jack In The Box from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Finally, Mizuho increased their price objective on Jack In The Box from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Three equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.22.

Jack In The Box Stock Down 1.0%

NASDAQ JACK opened at $13.33 on Friday. Jack In The Box Inc. has a 52 week low of $8.91 and a 52 week high of $23.86. The business's fifty day simple moving average is $15.80 and its 200-day simple moving average is $13.75. The firm has a market cap of $255.67 million, a PE ratio of 7.71, a P/E/G ratio of 0.80 and a beta of 1.38.

Jack In The Box (NASDAQ:JACK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.08. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. The business had revenue of $257.66 million during the quarter, compared to the consensus estimate of $264.60 million. During the same quarter last year, the firm earned $1.02 EPS. The business's revenue was down 22.6% compared to the same quarter last year. Research analysts expect that Jack In The Box Inc. will post 3.15 EPS 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.

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