Jack in the Box Sees Unusually High Options Volume (JACK)

Jack in the Box (NASDAQ:JACK) was the target of unusually large options trading activity on Thursday. Traders bought 7,132 call options on the stock. This represents an increase of approximately 1,350% compared to the typical volume of 492 call options.

Several equities research analysts have recently issued reports on the stock. Cowen reaffirmed a “hold” rating and set a $99.00 price objective on shares of Jack in the Box in a research report on Friday, January 26th. Wedbush raised shares of Jack in the Box from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $104.00 to $115.00 in a research report on Friday, January 26th. Goldman Sachs raised shares of Jack in the Box from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Wells Fargo decreased their price objective on shares of Jack in the Box from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. Finally, BidaskClub raised shares of Jack in the Box from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $106.85.

Shares of JACK opened at $83.79 on Friday. Jack in the Box has a 1-year low of $90.29 and a 1-year high of $91.26. The firm has a market capitalization of $2.70 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.61 and a beta of 0.43. The company has a debt-to-equity ratio of -2.77, a current ratio of 1.53 and a quick ratio of 1.52.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Wednesday, May 16th. The restaurant operator reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Jack in the Box had a net margin of 10.50% and a negative return on equity of 27.77%. The company had revenue of $209.80 million during the quarter, compared to analysts’ expectations of $212.84 million. During the same period last year, the firm earned $0.98 earnings per share. Jack in the Box’s revenue was down 21.1% on a year-over-year basis. sell-side analysts predict that Jack in the Box will post 3.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Tuesday, May 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 25th. This represents a $1.60 dividend on an annualized basis and a yield of 1.91%. Jack in the Box’s dividend payout ratio (DPR) is presently 41.24%.

In other news, VP Vanessa C. Fox sold 500 shares of Jack in the Box stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $88.40, for a total transaction of $44,200.00. Following the completion of the sale, the vice president now directly owns 2,142 shares of the company’s stock, valued at approximately $189,352.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Goebel sold 1,486 shares of Jack in the Box stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $84.68, for a total transaction of $125,834.48. Following the sale, the director now directly owns 21,702 shares of the company’s stock, valued at $1,837,725.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,596 shares of company stock valued at $225,544. Insiders own 2.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in JACK. Meeder Asset Management Inc. lifted its position in Jack in the Box by 597.5% in the fourth quarter. Meeder Asset Management Inc. now owns 1,123 shares of the restaurant operator’s stock valued at $110,000 after acquiring an additional 962 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Jack in the Box in the fourth quarter valued at about $118,000. Alps Advisors Inc. purchased a new stake in shares of Jack in the Box in the fourth quarter valued at about $218,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Jack in the Box in the fourth quarter valued at about $224,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Jack in the Box in the fourth quarter valued at about $260,000. 99.28% of the stock is owned by hedge funds and other institutional investors.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants and Qdoba Mexican Eats fast-casual restaurants primarily in the United States. As of October 01, 2017, it operated and franchised approximately 2,251 Jack in the Box restaurants in 21 states and Guam; and approximately 726 Qdoba Mexican Eats restaurants in 47 states, the District of Columbia, and Canada.

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