Ausbil Investment Management Ltd Makes New $2.82 Million Investment in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Ausbil Investment Management bought 51,235 Cracker Barrel shares worth approximately $2.82 million, giving it a 0.23% stake and making the stock its 27th-largest portfolio holding.
• Analysts hold a mixed view of CBRL, with a consensus rating of “Hold” and an average price target of $48.14; ratings range from Strong Buy to Sell.
• Cracker Barrel exceeded quarterly expectations, reporting $0.29 EPS versus a projected $0.45 loss and revenue of $797.37 million, while maintaining a quarterly dividend of $0.25 per share.

Ausbil Investment Management Ltd purchased a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 51,235 shares of the restaurant operator's stock, valued at approximately $2,823,000. Cracker Barrel Old Country Store accounts for approximately 1.3% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 27th biggest position. Ausbil Investment Management Ltd owned about 0.23% of Cracker Barrel Old Country Store at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Cracker Barrel Old Country Store in the 3rd quarter valued at approximately $26,000. Axiom Investment Management LLC purchased a new position in Cracker Barrel Old Country Store during the 1st quarter valued at about $28,000. Hilton Head Capital Partners LLC purchased a new position in Cracker Barrel Old Country Store during the 4th quarter valued at about $35,000. Canada Pension Plan Investment Board acquired a new position in Cracker Barrel Old Country Store during the second quarter worth about $37,000. Finally, PNC Financial Services Group Inc. raised its position in Cracker Barrel Old Country Store by 22.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock worth $50,000 after acquiring an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CBRL shares. Argus increased their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. UBS Group reissued a "neutral" rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, July 28th. Piper Sandler restated a "neutral" rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. Finally, Wall Street Zen upgraded Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Cracker Barrel Old Country Store currently has a consensus rating of "Hold" and a consensus target price of $48.14.

Cracker Barrel Old Country Store Stock Performance

NASDAQ:CBRL opened at $56.10 on Tuesday. The company has a market cap of $1.25 billion, a P/E ratio of 48.36 and a beta of 1.20. The firm's 50 day moving average is $49.54 and its two-hundred day moving average is $37.12. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $63.61. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.

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

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Friday, July 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, July 17th. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is 86.21%.

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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