Melvin Capital Management Lp buys $39,572,000 stake in Jack in the Box (JACK)

Jack in the Box (JACK) : Melvin Capital Management Lp scooped up 25,000 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 Aug 15, 2016. The investment management firm now holds a total of 400,000 shares of Jack in the Box which is valued at $39,572,000.Jack in the Box makes up approximately 1.68% of Melvin Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Qs Investors reduced its stake in JACK by selling 110 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 98,224 shares of JACK which is valued at $9,717,300. Jack in the Box makes up approx 0.08% of Qs Investors’s portfolio.Bluemountain Capital Management boosted its stake in JACK in the latest quarter, The investment management firm added 21,978 additional shares and now holds a total of 24,733 shares of Jack in the Box which is valued at $2,446,836. Jack in the Box makes up approx 0.07% of Bluemountain Capital Management’s portfolio. Dynamic Technology Lab Private Ltd sold out all of its stake in JACK during the most recent quarter. The investment firm sold 5,810 shares of JACK which is valued $574,783. Finemark National Bank Trust added JACK to its portfolio by purchasing 66 company shares during the most recent quarter which is valued at $6,539.Checchi Capital Advisers boosted its stake in JACK in the latest quarter, The investment management firm added 106 additional shares and now holds a total of 327 shares of Jack in the Box which is valued at $29,780. Jack in the Box makes up approx 0.01% of Checchi Capital Advisers’s portfolio.

Jack in the Box opened for trading at $99.79 and hit $100.66 on the upside on Thursday, eventually ending the session at $99.7, with a gain of 0.24% or 0.24 points. The heightened volatility saw the trading volume jump to 3,85,041 shares. Company has a market cap of $3,258 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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