Windward Management LP Makes New $2.88 Billion Investment in Jack In The Box Inc. $JACK

Key Points

• Windward Management LP bought 182,404 Jack In The Box shares valued at approximately $2.88 billion, making the restaurant operator its seventh-largest portfolio holding and representing about 0.96% of JACK.
• Jack In The Box reported quarterly EPS of $0.96, exceeding estimates of $0.88, but revenue fell 22.6% year over year to $257.66 million, below analyst expectations.
• JACK shares traded down 3.5% to $15.90, while analysts maintained an overall “Hold” rating with an average price target of $17.22.

Windward Management LP bought a new stake in shares of Jack In The Box Inc. (NASDAQ:JACK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 182,404 shares of the restaurant operator's stock, valued at approximately $2,883,807,000. Jack In The Box comprises approximately 0.9% of Windward Management LP's portfolio, making the stock its 7th biggest holding. Windward Management LP owned about 0.96% of Jack In The Box at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JACK. US Bancorp DE raised its stake in Jack In The Box by 96.7% during the third quarter. US Bancorp DE now owns 1,420 shares of the restaurant operator's stock valued at $28,000 after purchasing 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 4th quarter. Allworth Financial LP now owns 1,475 shares of the restaurant operator's stock worth $28,000 after buying an additional 1,126 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Jack In The Box by 3,604.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,852 shares of the restaurant operator's stock worth $35,000 after buying an additional 1,802 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Jack In The Box in the 2nd quarter worth about $30,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Jack In The Box during the 2nd quarter valued at about $48,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

Jack In The Box Trading Down 3.5%

JACK stock opened at $15.90 on Friday. Jack In The Box Inc. has a 12 month low of $8.91 and a 12 month high of $23.86. The company has a 50-day moving average price of $15.91 and a 200 day moving average price of $14.25. The stock has a market cap of $304.96 million, a PE ratio of 9.19, a P/E/G ratio of 0.98 and a beta of 1.38.

Jack In The Box (NASDAQ:JACK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.08. The company had revenue of $257.66 million for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was down 22.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. Sell-side analysts forecast that Jack In The Box Inc. will post 3.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on JACK shares. Wall Street Zen raised shares of Jack In The Box from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Guggenheim downgraded Jack In The Box from a "buy" rating to a "neutral" rating in a research report on Thursday, May 28th. Oppenheimer lowered their price objective on Jack In The Box from $27.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Citigroup lifted their target price on Jack In The Box from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Finally, Jefferies Financial Group set a $12.50 target price on Jack In The Box in a research report on Thursday, May 14th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $17.22.

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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