Steven Piano, Senior Vice President and Chief People Officer at Jack in the Box Inc. (NASDAQ:JACK), recently reported transactions involving the company's stock. On December 2, 2024, Piano acquired 5,253 shares of common stock at no cost, as these were restricted stock units that vested according to a pre-determined schedule. The transaction comes as Jack in the Box shares trade near $49.42, down about 38% year-to-date, reflecting the stock's notable volatility highlighted by InvestingPro analysis.
Two days later, on December 4, 2024, Piano sold 259 shares at a price of $48.9334 per share, totaling $12,673. This transaction was conducted to fulfill tax withholding obligations upon the vesting of restricted stock units, as per the company's automatic sell-to-cover policy. According to InvestingPro, which offers comprehensive analysis of 1,400+ US stocks including Jack in the Box, the company currently maintains a 3.56% dividend yield and appears slightly undervalued based on Fair Value calculations.
Following these transactions, Piano holds 14,106 shares of Jack in the Box common stock, representing a stake in the quick-service restaurant chain that currently has a market capitalization of $931 million.
In other recent news, Jack in the Box exceeded earnings estimates for the fourth quarter of fiscal year 2024 with $1.16 per share, though revenue fell short at $349.3 million. This was attributed to weaker same-store sales growth at both Jack In The Box (NYSE:BOX) and Del Taco brands. TD (TSX:TD) Cowen maintained its hold rating on Jack in the Box shares, with a steady price target of $50.00, while RBC (TSX:RY) Capital Markets reduced its price target from $70.00 to $65.00, maintaining an Outperform rating. Goldman Sachs (NYSE:GS), on the other hand, reduced its price target to $43.00 from $47.00, maintaining a Sell rating.
In other developments, Jack in the Box has made significant strides in digital expansion, new market penetration, and restaurant development, with over 14% of the company's sales being digital and agreements signed for 464 new restaurants. For fiscal 2025, the company projects an operating earnings per share (EPS) between $5.05 and $5.45. These recent developments reflect the company's ongoing challenges in same-store sales growth and increased expenses due to new store openings.
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