Cracker Barrel Old Country Store, Inc. $CBRL Holdings Lessened by Ausbil Investment Management Ltd

Key Points

• Ausbil Investment Management cut its Cracker Barrel stake by 57.5% in the third quarter, selling 29,466 shares and retaining 21,769 shares worth approximately $1.15 million. Institutional investors collectively own 96.01% of the company.
• Cracker Barrel’s latest quarterly results exceeded expectations, with EPS of $0.99 versus the $0.17 consensus and revenue of $849.34 million. However, revenue declined 2.2% year over year, and analysts’ average rating remains “Hold” with a $50.86 target price.
• The company declared a quarterly dividend of $0.25, equivalent to $1.00 annually and a 1.8% yield; shares opened at $56.40 and have traded between $24.85 and $60.26 over the past year.

Ausbil Investment Management Ltd lowered its stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 57.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,769 shares of the restaurant operator's stock after selling 29,466 shares during the period. Ausbil Investment Management Ltd owned approximately 0.10% of Cracker Barrel Old Country Store worth $1,145,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cracker Barrel Old Country Store during the 2nd quarter valued at $11,152,000. Meros Investment Management LP bought a new stake in Cracker Barrel Old Country Store in the second quarter worth $8,492,076. Royal Bank of Canada boosted its stake in Cracker Barrel Old Country Store by 55.0% during the first quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator's stock worth $4,312,000 after buying an additional 54,431 shares during the period. Bank of New York Mellon Corp purchased a new position in Cracker Barrel Old Country Store during the second quarter worth $7,444,000. Finally, First Trust Advisors LP increased its position in Cracker Barrel Old Country Store by 132.1% during the first quarter. First Trust Advisors LP now owns 124,739 shares of the restaurant operator's stock valued at $3,506,000 after acquiring an additional 70,987 shares during the last quarter. 96.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Donna Roberts sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $52.08, for a total transaction of $182,280.00. Following the transaction, the senior vice president directly owned 43,702 shares of the company's stock, valued at approximately $2,276,000.16. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the stock a "sell" rating in a research note on Friday, September 25th. 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. Wall Street Zen raised shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, Piper Sandler reissued a "neutral" rating and issued a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $50.86.

Cracker Barrel Old Country Store Stock Performance

CBRL stock opened at $56.40 on Thursday. The company has a quick ratio of 0.24, a current ratio of 0.58 and a debt-to-equity ratio of 0.71. The business's fifty day simple moving average is $53.94 and its two-hundred day simple moving average is $43.76. Cracker Barrel Old Country Store, Inc. has a twelve month low of $24.85 and a twelve month high of $60.26. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 1.44 and a beta of 1.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its earnings results on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.82. The firm had revenue of $849.34 million during the quarter, compared to analyst estimates of $834.57 million. Cracker Barrel Old Country Store had a net margin of 0.95% and a return on equity of 4.01%. The business's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts predict that Cracker Barrel Old Country Store, Inc. will post 1.45 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 16th. Cracker Barrel Old Country Store's dividend payout ratio is currently 71.43%.

Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc operates full-service restaurants combined with country-themed retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve Southern-inspired comfort food, including breakfast items, lunch and dinner entrées, biscuits, desserts and beverages. The retail stores offer home décor, apparel, gifts, seasonal merchandise, toys and other products with a traditional country and Americana theme.

Founded in 1969 by Dan Evins, Cracker Barrel opened its first location in Lebanon, Tennessee.

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