Bank of New York Mellon Corp Makes New $1.71 Million Investment in Jack In The Box Inc. $JACK

Key Points

• Bank of New York Mellon purchased 108,066 shares of Jack In The Box, valued at approximately $1.71 million, giving it a 0.57% stake. Institutional investors collectively own 99.79% of the company.
• Analyst sentiment remains mostly neutral, with a consensus “Hold” rating and an average price target of $17.22; targets range from $12.00 to $22.00.
• Jack In The Box beat quarterly EPS estimates, reporting $0.96 versus the expected $0.88, but revenue fell 22.6% year over year to $257.66 million. Shares opened at $15.16, compared with a 52-week range of $8.91 to $23.86.

Bank of New York Mellon Corp purchased a new stake in shares of Jack In The Box Inc. (NASDAQ:JACK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 108,066 shares of the restaurant operator's stock, valued at approximately $1,709,000. Bank of New York Mellon Corp owned about 0.57% of Jack In The Box as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Callodine Capital Management LP lifted its stake in shares of Jack In The Box by 3.5% in the first quarter. Callodine Capital Management LP now owns 1,760,470 shares of the restaurant operator's stock worth $17,024,000 after buying an additional 59,966 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in Jack In The Box by 44.3% in the 4th quarter. Nantahala Capital Management LLC now owns 865,990 shares of the restaurant operator's stock worth $16,411,000 after acquiring an additional 265,990 shares during the period. Marshall Wace LLP raised its holdings in Jack In The Box by 192.9% in the 3rd quarter. Marshall Wace LLP now owns 744,141 shares of the restaurant operator's stock worth $14,712,000 after acquiring an additional 490,071 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Jack In The Box by 18.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 639,060 shares of the restaurant operator's stock worth $12,110,000 after acquiring an additional 97,326 shares during the period. Finally, Bank of America Corp DE lifted its position in Jack In The Box by 21.2% during the 1st quarter. Bank of America Corp DE now owns 622,779 shares of the restaurant operator's stock worth $6,022,000 after acquiring an additional 108,865 shares during the last quarter. Institutional investors own 99.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JACK shares. Weiss Ratings restated a "sell (d)" rating on shares of Jack In The Box in a report on Tuesday, August 11th. Royal Bank Of Canada lifted their price objective on Jack In The Box from $16.00 to $22.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $16.00 price objective on shares of Jack In The Box in a research report on Thursday, August 13th. The Goldman Sachs Group decreased 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, Jefferies Financial Group set a $12.50 target price on Jack In The Box in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.22.

Jack In The Box Price Performance

Shares of Jack In The Box stock opened at $15.16 on Wednesday. The company has a market cap of $290.75 million, a PE ratio of 8.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38. The firm has a fifty day moving average price of $16.28 and a two-hundred day moving average price of $13.96. Jack In The Box Inc. has a fifty-two week low of $8.91 and a fifty-two week high of $23.86.

Jack In The Box (NASDAQ:JACK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.96 EPS for the quarter, beating 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 analyst estimates of $264.60 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. The firm's revenue for the quarter was down 22.6% on a year-over-year basis. Analysts expect that Jack In The Box Inc. will post 3.14 earnings per share for the current fiscal 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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