Cracker Barrel Old Country Store, Inc. $CBRL Shares Newly Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,347 shares of the restaurant operator’s stock, valued at approximately $1,018,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBRL. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cracker Barrel Old Country Store in the second quarter worth about $11,152,000. Meros Investment Management LP bought a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at approximately $8,492,076. Royal Bank of Canada grew its holdings in shares of Cracker Barrel Old Country Store by 55.0% during the first quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator’s stock valued at $4,312,000 after purchasing an additional 54,431 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at approximately $7,444,000. Finally, First Trust Advisors LP raised its position in shares of Cracker Barrel Old Country Store by 132.1% during the 1st quarter. First Trust Advisors LP now owns 124,739 shares of the restaurant operator’s stock worth $3,506,000 after purchasing an additional 70,987 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Up 2.3%

CBRL stock opened at $68.97 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.58 and a debt-to-equity ratio of 0.71. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $70.28. The firm’s 50-day simple moving average is $54.52 and its 200 day simple moving average is $45.33. The stock has a market cap of $1.54 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.82. The firm had revenue of $849.34 million for the quarter, compared to the consensus estimate of $834.57 million. Cracker Barrel Old Country Store had a net margin of 0.95% and a return on equity of 4.01%. Cracker Barrel Old Country Store’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. As a group, sell-side analysts predict that Cracker Barrel Old Country Store, Inc. will post 1.56 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 16th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 71.43%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CBRL. Bank of America reissued an “underperform” rating and issued a $48.00 price target on shares of Cracker Barrel Old Country Store in a report on Thursday, September 24th. Wells Fargo & Company boosted their price objective on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded Cracker Barrel Old Country Store from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Piper Sandler restated a “neutral” rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Finally, Citigroup increased their target price on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the stock a “sell” rating in a research report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.86.

Insider Activity at Cracker Barrel Old Country Store

In other Cracker Barrel Old Country Store news, SVP Donna Roberts sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $52.08, for a total value of $182,280.00. Following the sale, the senior vice president owned 43,702 shares in the company, valued at approximately $2,276,000.16. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.30% of the company’s stock.

Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc operates full-service restaurants combined with country-themed retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve Southern-inspired comfort food, including breakfast items, lunch and dinner entrées, biscuits, desserts and beverages. The retail stores offer home décor, apparel, gifts, seasonal merchandise, toys and other products with a traditional country and Americana theme.

Founded in 1969 by Dan Evins, Cracker Barrel opened its first location in Lebanon, Tennessee.