Jack in the Box Inc. Plans Quarterly Dividend of $0.44 (NASDAQ:JACK)

Jack in the Box Inc. (NASDAQ:JACKGet Rating) declared a quarterly dividend on Friday, May 27th, Wall Street Journal reports. Shareholders of record on Tuesday, June 7th will be paid a dividend of 0.44 per share by the restaurant operator on Wednesday, June 22nd. This represents a $1.76 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Monday, June 6th.

Jack in the Box has raised its dividend by an average of 2.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Jack in the Box has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jack in the Box to earn $7.15 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 24.6%.

Shares of JACK stock opened at $70.32 on Friday. The business has a 50 day moving average of $82.14 and a two-hundred day moving average of $85.61. Jack in the Box has a 52 week low of $65.00 and a 52 week high of $122.70. The company has a market cap of $1.48 billion, a P/E ratio of 12.10, a PEG ratio of 0.67 and a beta of 1.72.

Jack in the Box (NASDAQ:JACKGet Rating) last issued its earnings results on Thursday, May 26th. The restaurant operator reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.20). Jack in the Box had a net margin of 10.37% and a negative return on equity of 18.18%. The company had revenue of $322.29 million during the quarter, compared to analyst estimates of $340.81 million. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. As a group, analysts anticipate that Jack in the Box will post 5.95 earnings per share for the current fiscal year.

A number of equities analysts have commented on the company. Truist Financial decreased their target price on Jack in the Box from $130.00 to $107.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Morgan Stanley cut their price target on Jack in the Box from $98.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, May 27th. Wedbush cut their price target on Jack in the Box from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft cut their price target on Jack in the Box from $108.00 to $86.00 in a report on Friday, May 27th. Finally, Robert W. Baird cut their price target on Jack in the Box from $92.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus price target of $100.98.

In other Jack in the Box news, Director Michael W. Murphy sold 859 shares of Jack in the Box stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $83.11, for a total value of $71,391.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of JACK. Capital World Investors acquired a new position in Jack in the Box in the first quarter worth approximately $98,706,000. BlackRock Inc. grew its position in Jack in the Box by 36.3% during the 1st quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock worth $306,789,000 after purchasing an additional 874,419 shares in the last quarter. Vanguard Group Inc. grew its position in Jack in the Box by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 2,254,354 shares of the restaurant operator’s stock worth $210,580,000 after purchasing an additional 207,183 shares in the last quarter. Norges Bank purchased a new position in Jack in the Box during the 4th quarter worth approximately $15,637,000. Finally, UBS Group AG grew its position in Jack in the Box by 154.2% during the 3rd quarter. UBS Group AG now owns 33,923 shares of the restaurant operator’s stock worth $3,301,000 after purchasing an additional 96,534 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Jack in the Box Company Profile (Get Rating)

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Dividend History for Jack in the Box (NASDAQ:JACK)

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