Bayforest Capital Ltd Invests $342,000 in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Key Points

• Bayforest Capital Ltd has invested approximately $342,000 in Cracker Barrel Old Country Store, acquiring 8,798 shares, according to a recent 13F filing.
• Major shareholder Gmt Capital Corp increased their stake by acquiring 53,000 shares recently, bringing their total ownership to about 2.83 million shares.
• Cracker Barrel's latest earnings report showed $0.58 earnings per share, surpassing estimates, and the company announced a quarterly dividend of $0.25 per share to be paid on August 13th.

Bayforest Capital Ltd bought a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,798 shares of the restaurant operator's stock, valued at approximately $342,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CBRL. Marshall Wace LLP raised its position in shares of Cracker Barrel Old Country Store by 151.9% during the fourth quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator's stock worth $40,544,000 after acquiring an additional 462,542 shares during the last quarter. Towle & Co. bought a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at about $13,575,000. Raymond James Financial Inc. bought a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at about $4,597,000. Woodline Partners LP bought a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at about $3,990,000. Finally, Dimensional Fund Advisors LP increased its holdings in Cracker Barrel Old Country Store by 16.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 351,539 shares of the restaurant operator's stock valued at $18,584,000 after purchasing an additional 50,905 shares during the last quarter. Institutional investors own 96.01% of the company's stock.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp acquired 53,000 shares of Cracker Barrel Old Country Store stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $44.60 per share, with a total value of $2,363,800.00. Following the completion of the transaction, the insider directly owned 2,833,700 shares of the company's stock, valued at approximately $126,383,020. This represents a 1.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Cracker Barrel Old Country Store Price Performance

CBRL stock opened at $62.00 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.65 and a quick ratio of 0.26. The stock has a market capitalization of $1.38 billion, a P/E ratio of 24.03 and a beta of 1.45. The business has a 50-day moving average of $61.69 and a 200-day moving average of $52.44. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $33.85 and a fifty-two week high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.41. The company had revenue of $821.10 million during the quarter, compared to analysts' expectations of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%. Cracker Barrel Old Country Store's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio is currently 38.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup reiterated a "sell" rating and issued a $42.00 price objective (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Bank of America upped their price objective on 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 reiterated a "neutral" rating and issued a $69.00 price objective (up previously from $60.00) on shares of Cracker Barrel Old Country Store in a report on Monday, July 14th. Truist Financial increased their price target on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Loop Capital increased their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Friday, June 6th. Two equities research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $55.14.

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.

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