Jack In The Box Inc. $JACK Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Jack In The Box stake by 21.2% in the first quarter, acquiring 108,865 additional shares for a total of 622,779 shares valued at approximately $6.0 million. Institutional investors collectively own 99.79% of the company.
• Analysts maintain a largely cautious outlook, with a consensus “Hold” rating and an average price target of $17.22. Recent target prices range from $15 to $22.
• Jack In The Box reported quarterly EPS of $0.96, beating estimates of $0.88, but revenue fell 22.6% year over year to $257.66 million. The stock opened at $16.47, well below its 12-month high of $23.86.

Bank of America Corp DE boosted its holdings in Jack In The Box Inc. (NASDAQ:JACK - Free Report) by 21.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 622,779 shares of the restaurant operator's stock after purchasing an additional 108,865 shares during the period. Bank of America Corp DE owned about 3.27% of Jack In The Box worth $6,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Maxi Investments CY Ltd acquired a new stake in Jack In The Box during the fourth quarter worth about $2,263,000. Seven Six Capital Management LLC raised its stake in shares of Jack In The Box by 53.0% during the first quarter. Seven Six Capital Management LLC now owns 181,150 shares of the restaurant operator's stock valued at $1,752,000 after purchasing an additional 62,750 shares in the last quarter. Callodine Capital Management LP lifted its stake in shares of Jack In The Box by 3.5% in the 1st quarter. Callodine Capital Management LP now owns 1,760,470 shares of the restaurant operator's stock worth $17,024,000 after acquiring an additional 59,966 shares during the period. Quantinno Capital Management LP lifted its position in Jack In The Box by 112.8% in the first quarter. Quantinno Capital Management LP now owns 80,678 shares of the restaurant operator's stock worth $780,000 after purchasing an additional 42,763 shares during the period. Finally, CWM LLC lifted its holdings in shares of Jack In The Box by 179.3% in the fourth quarter. CWM LLC now owns 6,006 shares of the restaurant operator's stock valued at $114,000 after buying an additional 3,856 shares during the period. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JACK shares. Stifel Nicolaus raised their target price on shares of Jack In The Box from $10.00 to $15.00 and gave the stock a "hold" rating in a report on Thursday, May 14th. Mizuho increased their target price on shares of Jack In The Box from $13.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. UBS Group lifted their price target on Jack In The Box from $14.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. Oppenheimer decreased their price objective on shares of Jack In The Box from $27.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded Jack In The Box from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Jack In The Box currently has a consensus rating of "Hold" and a consensus price target of $17.22.

Jack In The Box Stock Down 1.4%

Jack In The Box stock opened at $16.47 on Thursday. Jack In The Box Inc. has a 12 month low of $8.91 and a 12 month high of $23.86. The business has a 50 day moving average price of $15.85 and a two-hundred day moving average price of $14.30. The stock has a market cap of $315.89 million, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.38.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.08. The company had revenue of $257.66 million during the quarter, compared to analysts' expectations of $264.60 million. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. The business's revenue was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 EPS. On average, 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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