First Mercantile Trust Co buys $567,458 stake in Jack in the Box (JACK)

Jack in the Box (JACK) : First Mercantile Trust Co scooped up 1,809 additional shares in Jack in the Box during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 5,989 shares of Jack in the Box which is valued at $567,458.Jack in the Box makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in JACK during the most recent quarter. The investment firm sold 27 shares of JACK which is valued $2,558.Bnp Paribas Arbitrage Sa reduced its stake in JACK by selling 33,903 shares or 84.4% in the most recent quarter. The Hedge Fund company now holds 6,268 shares of JACK which is valued at $588,001.

Jack in the Box opened for trading at $94.11 and hit $94.97 on the upside on Friday, eventually ending the session at $94.75, with a gain of 1.00% or 0.94 points. The heightened volatility saw the trading volume jump to 5,35,301 shares. Company has a market cap of $3,096 M.

On the company’s financial health, Jack in the Box reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.87. The company had revenue of $368.94 million for the quarter, compared to analysts expectations of $367.04 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on Jack in the Box. Company shares were Reiterated by Telsey Advisory Group on Aug 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 120 from a previous price target of $105 .Company shares were Reiterated by Wedbush on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .Company shares were Reiterated by Telsey Advisory Group on Jul 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 105 from a previous price target of $85 .

Jack in the Box Inc. (JACK) is a restaurant company. The Company operates in two segments: Jack in the Box and Qdoba Restaurant Operations. It operates and franchises approximately 2888 Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Grill fast-casual restaurants. The Company’s Jack in the Box restaurants offer a selection of products targeted primarily at the adult fast-food consumer. Its menu features a variety of items including hamburgers tacos specialty sandwiches drinks real ice cream shakes salads and side items. The Company’s Qdoba restaurants feature fresh ingredients and Mexican flavors that combine to create a variety of flavors and products.

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