SAN DIEGO—Timothy T. Linderman, Senior Vice President and Chief Development Officer at Jack in the Box Inc. (NASDAQ:JACK), recently sold 255 shares of the company's common stock. According to an SEC filing, the shares were sold on December 4 at an average price of $48.93, totaling approximately $12,477. The transaction occurred as the stock trades near $49.42, with Jack in the Box maintaining a market capitalization of approximately $931 million and offering a 3.6% dividend yield.
The sale was executed to cover tax obligations related to the vesting of restricted stock units, as per the company's automatic sell-to-cover policy outlined in the grant agreement. Following this transaction, Linderman holds 13,694 shares of Jack in the Box.
Earlier, on December 2, Linderman acquired 5,253 restricted stock units, which vest in three equal installments over the next three years. These units are subject to a holding requirement until he meets his stock ownership requirements.
In other recent news, Jack in the Box surpassed earnings estimates for the fourth quarter of fiscal year 2024, reporting earnings of $1.16 per share. However, revenue fell short at $349.3 million, attributed to weaker same-store sales growth at both Jack In The Box and Del Taco brands. TD Cowen, RBC Capital Markets, and Goldman Sachs (NYSE:GS) have all recently adjusted their outlooks on the company, with TD Cowen maintaining a hold rating, RBC Capital Markets maintaining an outperform rating but reducing its price target, and Goldman Sachs maintaining a sell rating, also with a reduced price target.
These are recent developments that reflect the company's financial performance and the analysts' assessments. The lower revenue and weaker same-store sales growth have led to adjustments in earnings per share projections and price targets. In spite of these challenges, Jack in the Box has made progress 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 EPS between $5.05 and $5.45. These developments indicate a strategic progression despite a challenging economic environment.
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