IPG Investment Advisors LLC Reduces Stock Position in Jack In The Box Inc. $JACK

Key Points

• IPG Investment Advisors reduced its Jack In The Box stake by 34% in the fourth quarter, selling 222,175 shares and leaving it with 431,001 shares valued at about $8.17 million.
• Several other hedge funds recently boosted their holdings, and 99.79% of Jack In The Box is now owned by institutional investors and hedge funds.
• Analysts remain cautious on the stock: the consensus rating is Hold with a $15.84 price target, while several firms have recently cut targets and Goldman Sachs issued a Sell rating.

IPG Investment Advisors LLC cut its holdings in Jack In The Box Inc. (NASDAQ:JACK - Free Report) by 34.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,001 shares of the restaurant operator's stock after selling 222,175 shares during the period. Jack In The Box comprises about 1.4% of IPG Investment Advisors LLC's holdings, making the stock its 14th largest position. IPG Investment Advisors LLC owned 2.26% of Jack In The Box worth $8,167,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Marshall Wace LLP increased its holdings in shares of 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 valued at $14,712,000 after acquiring an additional 490,071 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Jack In The Box by 519.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 241,444 shares of the restaurant operator's stock valued at $4,773,000 after acquiring an additional 202,469 shares during the last quarter. Ruffer LLP purchased a new position in shares of Jack In The Box in the 4th quarter valued at about $3,223,000. Two Sigma Investments LP increased its holdings in shares of Jack In The Box by 186.4% in the 3rd quarter. Two Sigma Investments LP now owns 236,606 shares of the restaurant operator's stock valued at $4,678,000 after acquiring an additional 154,002 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Jack In The Box by 535.1% in the 3rd quarter. Millennium Management LLC now owns 152,138 shares of the restaurant operator's stock valued at $3,008,000 after acquiring an additional 128,182 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JACK shares. Citigroup dropped their price objective on Jack In The Box from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, May 14th. Barclays dropped their price objective on Jack In The Box from $23.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, May 14th. Royal Bank Of Canada dropped their price objective on Jack In The Box from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Thursday, May 14th. Morgan Stanley dropped their price objective on Jack In The Box from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. Finally, 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 report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $15.84.

Jack In The Box Stock Up 8.2%

Shares of NASDAQ JACK opened at $11.78 on Thursday. The stock has a market cap of $224.64 million, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.59 and a beta of 1.45. Jack In The Box Inc. has a 52-week low of $8.91 and a 52-week high of $25.34. The business has a 50-day moving average price of $11.75 and a 200 day moving average price of $16.36.

Jack In The Box (NASDAQ:JACK - Get Free Report) last announced its earnings results on Wednesday, May 13th. The restaurant operator reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. The firm had revenue of $254.26 million during the quarter, compared to analysts' expectations of $256.55 million. Jack In The Box had a negative return on equity of 6.34% and a net margin of 2.82%.The business's revenue was down 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Sell-side analysts anticipate that Jack In The Box Inc. will post 3.44 earnings per share for the current year.

About Jack In The Box

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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