BlackRock Inc. Purchases Shares of 1,342,305 Jack In The Box Inc. $JACK

Key Points

• BlackRock acquired 1.34 million shares of Jack In The Box in the second quarter, worth about $21.2 million, giving it a 7.04% stake. Institutional investors and hedge funds collectively own 99.79% of the company.
• Jack In The Box exceeded quarterly EPS expectations, reporting $0.96 versus the $0.88 consensus estimate, but revenue fell 22.6% year over year to $257.66 million and missed forecasts.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and an average price target of $17.22, compared with shares recently trading at $15.86.

BlackRock Inc. purchased a new stake in Jack In The Box Inc. (NASDAQ:JACK - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,342,305 shares of the restaurant operator's stock, valued at approximately $21,222,000. BlackRock Inc. owned 7.04% of Jack In The Box as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in 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 during the last quarter. US Bancorp DE grew its stake in shares of Jack In The Box by 96.7% in the third quarter. US Bancorp DE now owns 1,420 shares of the restaurant operator's stock valued at $28,000 after buying an additional 698 shares in the last quarter. Allworth Financial LP grew its stake in shares of Jack In The Box by 322.6% in the fourth quarter. Allworth Financial LP now owns 1,475 shares of the restaurant operator's stock valued at $28,000 after buying an additional 1,126 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Jack In The Box by 43.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,507 shares of the restaurant operator's stock valued at $85,000 after buying an additional 1,363 shares during the period. Finally, Manning & Napier Advisors LLC raised its holdings in shares of Jack In The Box by 0.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 376,343 shares of the restaurant operator's stock valued at $3,639,000 after buying an additional 1,677 shares during the period. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Jack In The Box Trading Up 1.5%

Shares of NASDAQ JACK opened at $15.86 on Thursday. The stock has a market cap of $304.19 million, a P/E ratio of 9.17, a PEG ratio of 0.93 and a beta of 1.38. Jack In The Box Inc. has a 12-month low of $8.91 and a 12-month high of $23.86. The business's fifty day simple moving average is $16.21 and its 200-day simple moving average is $14.12.

Jack In The Box (NASDAQ:JACK - Get Free Report) last released its earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share (EPS) 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 period last year, the business posted $1.02 earnings per share. Jack In The Box's revenue was down 22.6% compared to the same quarter last year. On average, equities analysts forecast that Jack In The Box Inc. will post 3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group set a $12.50 target price on Jack In The Box in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed 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. Weiss Ratings reiterated a "sell (d)" rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Stifel Nicolaus increased their price target on shares of Jack In The Box from $10.00 to $15.00 and gave the stock a "hold" rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada raised their price objective on shares of Jack In The Box from $16.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $17.22.

Jack In The Box 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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