Traders Buy High Volume of Call Options on Jack in the Box (JACK)

Jack in the Box Inc. (NASDAQ:JACK) was the recipient of unusually large options trading on Thursday. Investors acquired 1,796 call options on the company. This represents an increase of approximately 932% compared to the average volume of 174 call options.

NASDAQ:JACK opened at $79.22 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.52 and a beta of 0.62. Jack in the Box has a 12 month low of $74.19 and a 12 month high of $93.98.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Wednesday, February 20th. The restaurant operator reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Jack in the Box had a net margin of 16.55% and a negative return on equity of 21.48%. The company had revenue of $290.80 million for the quarter, compared to analysts’ expectations of $275.26 million. During the same quarter in the previous year, the firm posted $1.23 EPS. Jack in the Box’s revenue was down 1.3% on a year-over-year basis. On average, analysts expect that Jack in the Box will post 4.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Monday, March 4th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. Jack in the Box’s payout ratio is 42.22%.

A number of equities research analysts recently commented on JACK shares. Wedbush cut shares of Jack in the Box from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $80.00 in a report on Friday, October 26th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Jack in the Box in a report on Wednesday, November 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 price target on shares of Jack in the Box in a report on Thursday, November 22nd. BidaskClub raised shares of Jack in the Box from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Cowen reaffirmed a “hold” rating and issued a $81.00 price target on shares of Jack in the Box in a report on Friday, November 30th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Jack in the Box presently has an average rating of “Hold” and a consensus target price of $91.90.

In other news, CEO Leonard A. Comma sold 11,528 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $87.66, for a total value of $1,010,544.48. Following the transaction, the chief executive officer now owns 196,397 shares in the company, valued at approximately $17,216,161.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Leonard A. Comma sold 1,615 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $77.44, for a total value of $125,065.60. Following the completion of the transaction, the chief executive officer now owns 207,552 shares in the company, valued at approximately $16,072,826.88. The disclosure for this sale can be found here. Insiders sold a total of 15,563 shares of company stock worth $1,344,242 in the last 90 days. Company insiders own 2.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Litespeed Management L.L.C. bought a new stake in Jack in the Box during the 4th quarter valued at $1,359,000. Amalgamated Bank raised its holdings in Jack in the Box by 8.4% during the 4th quarter. Amalgamated Bank now owns 3,941 shares of the restaurant operator’s stock valued at $306,000 after acquiring an additional 304 shares during the period. Macquarie Group Ltd. raised its holdings in Jack in the Box by 12.0% during the 4th quarter. Macquarie Group Ltd. now owns 709,239 shares of the restaurant operator’s stock valued at $55,059,000 after acquiring an additional 76,230 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Jack in the Box by 17.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 217,312 shares of the restaurant operator’s stock valued at $16,870,000 after acquiring an additional 31,899 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Jack in the Box during the 4th quarter valued at $481,000. 98.40% of the stock is currently owned by institutional investors and hedge funds.

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About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of April 15, 2018, it operated and franchised 2,245 Jack in the Box restaurants primarily in the western and southern United States and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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