Invenomic Capital Management LP Has $10.77 Million Holdings in Jack In The Box Inc. $JACK

Key Points

• Invenomic Capital Management cut its Jack In The Box stake by 21.4% in the fourth quarter, but still held 568,079 shares valued at about $10.77 million, or roughly 2.97% of the company.
• Jack In The Box posted mixed quarterly results: EPS of $0.76 beat estimates, while revenue of $254.26 million came in slightly below expectations and was down 24.5% year over year.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $15.84, while insider buying was also noted after Director Guillermo Diaz, Jr. purchased 5,962 shares.

Invenomic Capital Management LP lessened its holdings in Jack In The Box Inc. (NASDAQ:JACK - Free Report) by 21.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,079 shares of the restaurant operator's stock after selling 155,068 shares during the period. Invenomic Capital Management LP owned about 2.97% of Jack In The Box worth $10,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Jack In The Box by 45.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 389,327 shares of the restaurant operator's stock worth $7,697,000 after acquiring an additional 121,752 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Jack In The Box in the 4th quarter worth about $2,043,000. SG Americas Securities LLC raised its holdings in shares of Jack In The Box by 1,990.4% in the 4th quarter. SG Americas Securities LLC now owns 117,457 shares of the restaurant operator's stock worth $2,226,000 after acquiring an additional 111,838 shares during the last quarter. Ruffer LLP acquired a new stake in shares of Jack In The Box in the 4th quarter worth about $3,223,000. Finally, Maxi Investments CY Ltd acquired a new stake in shares of Jack In The Box in the 4th quarter worth about $2,263,000. Institutional investors and hedge funds own 99.79% of the company's stock.

Jack In The Box Stock Down 1.8%

Jack In The Box stock opened at $12.40 on Thursday. Jack In The Box Inc. has a 52 week low of $8.91 and a 52 week high of $25.34. The company's 50 day moving average price is $12.26 and its two-hundred day moving average price is $15.95. The stock has a market cap of $236.47 million, a P/E ratio of 6.70, a P/E/G ratio of 0.70 and a beta of 1.44.

Jack In The Box (NASDAQ:JACK - Get Free Report) last posted its earnings results on Wednesday, May 13th. The restaurant operator reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Jack In The Box had a net margin of 2.82% and a negative return on equity of 6.34%. The firm had revenue of $254.26 million for the quarter, compared to analysts' expectations of $256.55 million. During the same quarter last year, the firm earned $1.20 EPS. The company's quarterly revenue was down 24.5% compared to the same quarter last year. On average, equities analysts anticipate that Jack In The Box Inc. will post 3.41 EPS for the current year.

Insider Activity

In related news, Director Guillermo Diaz, Jr. purchased 5,962 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $11.51 per share, for a total transaction of $68,622.62. Following the purchase, the director directly owned 20,692 shares in the company, valued at approximately $238,164.92. This trade represents a 40.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

JACK has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Jack In The Box from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, May 14th. Sanford C. Bernstein set a $15.00 target price on shares of Jack In The Box in a research report on Thursday, May 14th. Wall Street Zen cut shares of Jack In The Box from a "hold" rating to a "sell" rating in a research report on Saturday, May 30th. Royal Bank Of Canada dropped their target price on shares of Jack In The Box from $17.00 to $16.00 and set an "outperform" rating on the stock in a research report on Thursday, May 14th. Finally, Jefferies Financial Group set a $12.50 target price on shares of Jack In The Box in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Jack In The Box currently has an average rating of "Hold" and an average target price of $15.84.

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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