30,757 Shares in Cracker Barrel Old Country Store, Inc. $CBRL Acquired by Pinnacle Holdings LLC

Key Points

• Pinnacle Holdings LLC acquired 30,757 shares of Cracker Barrel, valued at approximately $1.64 million, giving it a 0.14% stake. Institutional investors collectively own 96.01% of the company.
• Cracker Barrel reported quarterly revenue of $797.37 million and adjusted earnings of $0.29 per share, beating analyst expectations, although revenue declined 2.9% year over year.
• CBRL shares opened at $57.65, near their 52-week high of $63.15. Analysts have a consensus “Hold” rating with an average price target of $48.14.

Pinnacle Holdings LLC acquired a new stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,757 shares of the restaurant operator's stock, valued at approximately $1,639,000. Pinnacle Holdings LLC owned about 0.14% of Cracker Barrel Old Country Store at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 321 shares during the last quarter. Captrust Financial Advisors grew its position in Cracker Barrel Old Country Store by 8.4% in the second quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator's stock valued at $409,000 after acquiring an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cracker Barrel Old Country Store by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator's stock worth $510,000 after acquiring an additional 546 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Cracker Barrel Old Country Store during the second quarter worth about $37,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Cracker Barrel Old Country Store in the third quarter worth about $26,000. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Stock Performance

CBRL stock opened at $57.65 on Monday. Cracker Barrel Old Country Store, Inc. has a 1-year low of $24.85 and a 1-year high of $63.15. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $53.06 and a 200-day moving average price of $38.85. The firm has a market cap of $1.29 billion, a PE ratio of 49.70 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.74. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The business had revenue of $797.37 million during the quarter, compared to analysts' expectations of $776.69 million. During the same period last year, the company posted $0.56 earnings per share. The business's quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts expect that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a research note on Saturday, June 13th. Citigroup raised their target price on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a "sell" rating in a research report on Tuesday, July 21st. Piper Sandler reiterated a "neutral" rating and set a $51.00 price target on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Bank of America increased their price target on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th. Finally, UBS Group reissued a "neutral" rating on shares of Cracker Barrel Old Country Store in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $48.14.

Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.

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