Trade Report: The Prudential Financial Inc. Cuts Stake in Jack In The Box Inc. (JACK)

The Prudential Financial Inc. Cuts Stake in Jack In The Box Inc. (JACK)

Prudential Financial Inc. cut its position in Jack In The Box Inc. (NASDAQ:JACK) by 72.5% during the second quarter, Holdings Channel reports. The firm owned 94,821 shares of the company’s stock after selling 249,820 shares during the period. Prudential Financial Inc. owned about 0.29% of Jack In The Box worth $8,147,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in Jack In The Box by 58.9% in the second quarter. LS Investment Advisors LLC now owns 1,992 shares of the company’s stock valued at $171,000 after buying an additional 738 shares during the last quarter. Mount Lucas Management LP raised its stake in Jack In The Box by 10.8% in the first quarter. Mount Lucas Management LP now owns 3,208 shares of the company’s stock valued at $205,000 after buying an additional 312 shares during the last quarter. Capstone Asset Management Co. purchased a new stake in Jack In The Box during the second quarter valued at approximately $224,000. Oakbrook Investments LLC purchased a new stake in Jack In The Box during the second quarter valued at approximately $232,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Jack In The Box during the second quarter valued at approximately $258,000. 98.56% of the stock is owned by institutional investors.

Shares of Jack In The Box Inc. (NASDAQ:JACK) traded up 1.00% during midday trading on Friday, hitting $94.75. 535,301 shares of the stock were exchanged. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 28.82 and a beta of 0.41. Jack In The Box Inc. has a one year low of $61.78 and a one year high of $102.68. The firm has a 50 day moving average of $98.19 and a 200-day moving average of $84.42.

Jack In The Box (NASDAQ:JACK) last posted its earnings results on Wednesday, August 3rd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.20. The firm earned $368.94 million during the quarter, compared to analysts’ expectations of $367.52 million. Jack In The Box had a negative return on equity of 120.29% and a net margin of 7.41%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. Equities analysts expect that Jack In The Box Inc. will post $3.73 EPS for the current year.

JACK has been the subject of several analyst reports. Bank of America Corp. reissued a “buy” rating and set a $108.00 price target on shares of Jack In The Box in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $115.00 price target (up from $105.00) on shares of Jack In The Box in a research report on Monday, September 26th. Robert W. Baird reissued an “outperform” rating and set a $120.00 price target on shares of Jack In The Box in a research report on Sunday, September 25th. Zacks Investment Research raised shares of Jack In The Box from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Tuesday. Finally, Vetr upgraded shares of Jack In The Box from a “hold” rating to a “buy” rating and set a $87.97 price objective on the stock in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Jack In The Box presently has an average rating of “Buy” and a consensus price target of $101.53.

In other Jack In The Box news, CEO Leonard A. Comma sold 67,572 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $96.68, for a total value of $6,532,860.96. Following the completion of the sale, the chief executive officer now owns 164,710 shares in the company, valued at $15,924,162.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Carol A. Diraimo sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the vice president now owns 16,059 shares of the company’s stock, valued at approximately $1,605,900. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Jack In The Box Company Profile

Jack in the Box Inc is a restaurant company. The Company operates and franchises approximately 2,910 Jack in the Box quick-service restaurants (QSR) and Qdoba Mexican Eats fast-casual restaurants (Qdoba). Its segments are Jack in the Box and Qdoba Restaurant operations. It operates and franchises approximately 2,250 Jack in the Box restaurants, primarily in the western and southern United States, including one in Guam, over 660 Qdoba restaurants across the United States, and approximately four in Canada.

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