83,468 Jack In The Box Inc. $JACK Shares Sold by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors cut its Jack In The Box stake by 17.8%, selling 83,468 shares in the third quarter; it retained 385,832 shares, worth about $5.1 million.
• Analyst sentiment is mostly cautious: 12 analysts rate the stock Hold and three Sell, versus two Buy ratings. The average price target is $16.83, and MarketBeat lists the consensus rating as “Reduce.”
• Jack In The Box beat quarterly earnings estimates with EPS of $0.96 versus $0.88 expected, but revenue fell 22.6% year over year to $257.66 million and missed forecasts.

IPG Investment Advisors LLC lessened its holdings in Jack In The Box Inc. (NASDAQ:JACK - Free Report) by 17.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 385,832 shares of the restaurant operator's stock after selling 83,468 shares during the period. IPG Investment Advisors LLC owned 2.01% of Jack In The Box worth $5,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC lifted its position in shares of Jack In The Box by 0.4% in the first quarter. Manning & Napier Advisors LLC now owns 376,343 shares of the restaurant operator's stock valued at $3,639,000 after acquiring an additional 1,677 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Jack In The Box during the second quarter worth about $30,000. Cetera Investment Advisers grew its position in shares of Jack In The Box by 8.6% during the first quarter. Cetera Investment Advisers now owns 25,027 shares of the restaurant operator's stock worth $242,000 after purchasing an additional 1,987 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Jack In The Box during the second quarter worth about $48,000. Finally, Versant Capital Management Inc grew its position in shares of Jack In The Box by 106.7% during the second quarter. Versant Capital Management Inc now owns 6,107 shares of the restaurant operator's stock worth $97,000 after purchasing an additional 3,152 shares in the last quarter. 99.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JACK has been the topic of several recent analyst reports. Mizuho lifted their target price 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. Weiss Ratings restated a "sell (d)" rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Citigroup upped their price target on Jack In The Box from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Morgan Stanley cut their price objective on shares of Jack In The Box from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Thursday, October 15th. Finally, UBS Group lifted their price objective on shares of Jack In The Box from $14.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Jack In The Box has an average rating of "Reduce" and an average target price of $16.83.

Jack In The Box Stock Down 3.8%

JACK opened at $13.27 on Wednesday. The firm has a 50-day simple moving average of $13.45 and a two-hundred day simple moving average of $14.60. Jack In The Box Inc. has a 52 week low of $8.91 and a 52 week high of $23.86. The company has a market capitalization of $254.52 million, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

Jack In The Box (NASDAQ:JACK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.08. Jack In The Box had a negative return on equity of 6.33% and a net margin of 2.84%. The firm had revenue of $257.66 million during the quarter, compared to analyst estimates of $264.60 million. During the same quarter last year, the business posted $1.02 earnings per share. The business's quarterly revenue was down 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that Jack In The Box Inc. will post 3.13 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.

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