Corient Private Wealth LP Has $2.45 Million Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Corient Private Wealth LP more than doubled its Cracker Barrel position in the second quarter, owning 45,996 shares valued at approximately $2.45 million, or 0.21% of the company.
• Other institutional investors also initiated or expanded holdings, bringing total institutional ownership to 96.01% of Cracker Barrel’s outstanding stock.
• CBRL shares opened at $45.48, while analysts maintained a mixed outlook: the stock has an average “Hold” rating and a consensus price target of $49.43.

Corient Private Wealth LP increased its position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 102.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,996 shares of the restaurant operator's stock after buying an additional 23,322 shares during the period. Corient Private Wealth LP owned 0.21% of Cracker Barrel Old Country Store worth $2,452,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Meadowbrook Wealth Management LLC acquired a new position in Cracker Barrel Old Country Store in the second quarter valued at approximately $530,000. AXQ Capital LP acquired a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at $249,000. Headlands Technologies LLC bought a new position in Cracker Barrel Old Country Store during the second quarter worth $247,000. Two Sigma Securities LLC acquired a new stake in Cracker Barrel Old Country Store in the second quarter worth $206,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cracker Barrel Old Country Store by 14.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,575 shares of the restaurant operator's stock worth $1,736,000 after purchasing an additional 4,004 shares during the period. Institutional investors own 96.01% of the company's stock.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL opened at $45.48 on Wednesday. The stock has a 50 day moving average of $53.91 and a 200 day moving average of $41.84. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 39.21 and a beta of 1.19. Cracker Barrel Old Country Store, Inc. has a 12 month low of $24.85 and a 12 month high of $60.26. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CBRL. Zacks Research upgraded shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a report on Monday, August 24th. Bank of America raised their target price on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th. Citigroup boosted their target price on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a "sell" rating in a research report on Tuesday, July 21st. Piper Sandler reaffirmed a "neutral" rating and set a $51.00 price target on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company increased their price target on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Cracker Barrel Old Country Store presently has an average rating of "Hold" and a consensus target price of $49.43.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a chain of full-service restaurants and retail stores under the Cracker Barrel brand. Its restaurants offer Southern-inspired, homestyle meals, including breakfast served throughout the day, lunch, dinner and seasonal menu items.

The company's adjoining country stores sell a variety of merchandise, including home décor, apparel, gifts, toys, games, candy, music and food products. Cracker Barrel's locations are designed around a nostalgic country-store and roadside dining experience, with many restaurants featuring front porches and rocking chairs.

Founded in 1969 by Dan Evins, the company opened its first location in Lebanon, Tennessee.

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