Bank of New York Mellon Corp Sells 14,547 Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Bank of New York Mellon Corp lowered its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,560 shares of the restaurant operator's stock after selling 14,547 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Cracker Barrel Old Country Store worth $6,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CBRL. Sterling Capital Management LLC raised its position in shares of Cracker Barrel Old Country Store by 685.9% in the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock valued at $29,000 after buying an additional 487 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Cracker Barrel Old Country Store during the fourth quarter worth approximately $207,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter worth $217,000. Tower Research Capital LLC TRC increased its holdings in shares of Cracker Barrel Old Country Store by 32.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,116 shares of the restaurant operator's stock worth $218,000 after buying an additional 1,020 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Cracker Barrel Old Country Store during the fourth quarter worth about $228,000. Hedge funds and other institutional investors own 96.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CBRL shares. Loop Capital lifted their price target on shares of Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Friday, June 6th. Bank of America boosted their price target on shares of Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an "underperform" rating in a report on Friday, June 6th. UBS Group reaffirmed a "neutral" rating and issued a $69.00 price target (up from $60.00) on shares of Cracker Barrel Old Country Store in a research note on Monday, July 14th. Citigroup reissued a "sell" rating and set a $42.00 target price (up from $39.00) on shares of Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Finally, Truist Financial increased their target price on shares of Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $55.14.

Cracker Barrel Old Country Store Stock Down 1.6%

Shares of NASDAQ CBRL traded down $1.08 during mid-day trading on Friday, reaching $65.78. The company had a trading volume of 530,498 shares, compared to its average volume of 886,436. Cracker Barrel Old Country Store, Inc. has a 12-month low of $33.85 and a 12-month high of $71.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.26 and a current ratio of 0.65. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 6.12 and a beta of 1.45. The stock has a fifty day moving average of $61.12 and a two-hundred day moving average of $52.25.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.41. The company had revenue of $821.10 million during the quarter, compared to the consensus estimate of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. As a group, equities research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 1.52%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is currently 38.76%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp acquired 53,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average cost of $41.84 per share, for a total transaction of $2,217,520.00. Following the completion of the purchase, the insider owned 2,674,800 shares of the company's stock, valued at approximately $111,913,632. This trade represents a 2.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders purchased 141,607 shares of company stock valued at $6,104,231. 1.40% of the stock is currently owned by company insiders.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.