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Jim Cramer's Action Alerts PLUS

Ordering More Shares of JACK

By Jim Cramer and Jack Mohr | 02/09/16 - 01:04 PM EST
Actions Taken:
Symbol Action # Shares Traded Recent Price Shares Owned After Trade % of Portfolio After Trade
JACK 200 $70.88 1200 3.87%

We will buy 200 shares of Jack-in-the-Box (JACK:Nasdaq) at around $70.88 after you receive this Alert. Following the trade, JACK will represent roughly 3.87% of the portfolio.

Shares of JACK are underperforming the market today and we want to take advantage of the opportunity to lower our cost basis and opportunistically deploy some of our historically high cash balance into one of our favorite names. JACK is expected to report fiscal-first-quarter results next week, and while we are not trading into the quarter (rather, we view it as a core long-term holding), we would not be surprised to see the company post strong same-store-sales (SSS) growth. Recent channel checks performed by analysts at Wedbush Securities indicate SSS growth at Qdoba is trending well above expectations (low to mid-single digits vs. 1.2% consensus and guidance for up to 2% higher).

Issues at Chipotle (CMG:NYSE), along with Qdoba's "Knockout Taco" rollout, promotions and catering initiatives were all cited as comp drivers. We expect strong momentum to continue through at least the intermediate term as it takes more market share from Chipotle, further innovates its menu and continues executing its remodel efforts. Checks for core Jack-in- the-Box franchises also point to continued momentum, with SSS growth in line to above 2.1% consensus, with lunch and dinner promotions cited for the strength.

Finally, we expect JACK's powerful share repurchase program to continue through 2016 and estimate roughly 1 million shares per quarter, which would equate to nearly 12% of the company's market cap/shares outstanding. Our target remains $90.


Jim Cramer, Portfolio Manager & Jack Mohr, Director of Research - Action Alerts PLUS

DISCLOSURE: At the time of publication, Action Alerts PLUS was long JACK.

Selling and Buying in the Portfolio
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We will exit HOT, sell some DOW and buy more BIIB.

02/09/16 - 11:16 AM EST
Market Update and Portfolio Strategy
Stocks in Focus: BAC, GOOGL, FB, MDLZ, HOT

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This week, higher crude and strong earnings had a negligible effect. No new names in the portfolio, though we downgraded 2 positions.

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Chart of I:DJI
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Action Alerts PLUS Holdings

Holdings 1

Stocks we would buy right now

Symbol % Portfolio
Industry Trade Now
AAPL 3.57% Consumer Durables
AEP 1.43% Utilities
AGN 5.98% Drugs
BAC 3.74% Banking
BIIB 4.58% Drugs
COST 3.05% Retail
CSCO 2.75% Computer Hardware
DOW 2.99% Chemicals
FB 5.47% Internet
GOOGL 4.81% Internet
JACK 3.96% Leisure
PNRA 4.71% Leisure
PYPL 3.22% Financial Services
SWK 3.73% Industrial
TGT 3.84% Retail
WBA 4.29% Retail
WFC 4.04% Banking
WWAV 4.47% Food & Beverage
Holdings 2

Stocks we would buy on a pullback

Symbol % Portfolio
Industry Trade Now
ETP 1.58% Energy
KHC 2.78% Food & Beverage
LLY 2.87% Drugs
LMT 3.95% Aerospace/ Defense
OXY 2.24% Energy
SBUX 1.49% Leisure
TMO 2.70% Health Services
Holdings 3

Stocks we would sell on strength

Symbol % Portfolio
Industry Trade Now
MDLZ 2.54% Food & Beverage
TWTR 0.46% Internet