Corient Private Wealth LP Buys New Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Corient Private Wealth LP purchased 42,068 Cracker Barrel shares worth approximately $2.24 million, representing a 0.19% stake. Institutional investors and hedge funds collectively own 96.01% of the company.
• Analyst sentiment remains mixed: Cracker Barrel has an average “Hold” rating and a consensus price target of $48.14, despite Wells Fargo assigning an “Overweight” rating with a $60 target.
• CBRL was trading at $54.80, near its 52-week high, after the company beat quarterly earnings expectations with $0.29 EPS versus the projected $0.45 loss; revenue fell 2.9% year over year to $797.37 million.

Corient Private Wealth LP purchased a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,068 shares of the restaurant operator's stock, valued at approximately $2,242,000. Corient Private Wealth LP owned 0.19% of Cracker Barrel Old Country Store at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cracker Barrel Old Country Store in the 3rd quarter valued at about $26,000. Axiom Investment Management LLC acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter worth approximately $28,000. Hilton Head Capital Partners LLC purchased a new position in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $35,000. Canada Pension Plan Investment Board purchased a new position in Cracker Barrel Old Country Store in the second quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. lifted 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 valued at $50,000 after buying an additional 321 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CBRL. Piper Sandler reissued a "neutral" rating and issued a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Citigroup lifted 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 report on Tuesday, July 21st. 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. Bank of America raised their price objective on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Finally, Wells Fargo & Company boosted their price objective on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of "Hold" and a consensus price target of $48.14.

Cracker Barrel Old Country Store Trading Up 1.1%

CBRL opened at $54.80 on Thursday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 47.24 and a beta of 1.19. The firm's 50 day moving average is $54.72 and its 200-day moving average is $40.17. Cracker Barrel Old Country Store, Inc. has a 52-week low of $24.85 and a 52-week high of $60.26. 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 earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $776.69 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The business's quarterly revenue was down 2.9% compared to the same quarter last year. Analysts expect that Cracker Barrel Old Country Store, Inc. will post 0.07 EPS for the current fiscal year.

Cracker Barrel Old Country Store Company 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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