Bank of New York Mellon Corp Purchases Shares of 139,654 Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Bank of New York Mellon purchased 139,654 Cracker Barrel shares during the second quarter, valued at approximately $7.44 million and representing about 0.62% of the company. Institutional investors collectively own 96.01% of the stock.
• Analyst sentiment remains mixed: Zacks Research upgraded the stock to “strong buy,” while others maintained hold or neutral ratings. The consensus rating is “Hold”, with an average price target of $48.14.
• Cracker Barrel reported quarterly EPS of $0.29, beating estimates by $0.74, and revenue of $797.37 million, above expectations. However, revenue declined 2.9% year over year, and the stock opened at $54.05, down 1.4%.

Bank of New York Mellon Corp purchased a new position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 139,654 shares of the restaurant operator's stock, valued at approximately $7,444,000. Bank of New York Mellon Corp owned about 0.62% of Cracker Barrel Old Country Store as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Cracker Barrel Old Country Store by 22.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock worth $50,000 after purchasing an additional 321 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Cracker Barrel Old Country Store by 8.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator's stock worth $409,000 after buying an additional 519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cracker Barrel Old Country Store by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator's stock worth $510,000 after buying an additional 546 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at approximately $37,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Cracker Barrel Old Country Store during the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 96.01% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research raised shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 24th. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. Piper Sandler reaffirmed a "neutral" rating and set a $51.00 target price on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 8th. Finally, Argus increased their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.14.

Cracker Barrel Old Country Store Stock Down 1.4%

NASDAQ:CBRL opened at $54.05 on Friday. The firm's 50-day moving average price is $54.84 and its 200-day moving average price is $40.33. The company has a market capitalization of $1.21 billion, a PE ratio of 46.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19. Cracker Barrel Old Country Store, Inc. has a 1-year low of $24.85 and a 1-year high of $60.26.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.74. The company had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. On average, equities analysts predict that Cracker Barrel Old Country Store, Inc. will post 0.07 EPS for the current fiscal year.

About Cracker Barrel Old Country Store

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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