Cracker Barrel Old Country Store, Inc. $CBRL Shares Newly Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems initiated a stake in Cracker Barrel, buying 17,500 shares valued at approximately $921,000, or about 0.08% of the company.
• Analyst sentiment is mixed: MarketBeat reported an overall “Hold” rating and an average price target of $50.86, with ratings ranging from Strong Buy to Sell.
• Cracker Barrel reported quarterly earnings of $0.99 per share, topping estimates of $0.17, while revenue fell 2.2% year over year. The company also declared a quarterly dividend of $0.25 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,500 shares of the restaurant operator's stock, valued at approximately $921,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of Cracker Barrel Old Country Store as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Cracker Barrel Old Country Store by 22.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock valued at $50,000 after acquiring an additional 321 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in Cracker Barrel Old Country Store by 17.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,625 shares of the restaurant operator's stock valued at $138,000 after buying an additional 396 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Cracker Barrel Old Country Store by 8.6% during the 3rd quarter. Sterling Capital Management LLC now owns 7,283 shares of the restaurant operator's stock worth $383,000 after buying an additional 575 shares in the last quarter. Carson Advisory Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 5.1% in the 1st quarter. Carson Advisory Inc. now owns 12,502 shares of the restaurant operator's stock worth $351,000 after buying an additional 602 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Cracker Barrel Old Country Store by 7.2% during the first quarter. Cetera Investment Advisers now owns 11,254 shares of the restaurant operator's stock valued at $316,000 after acquiring an additional 760 shares during the last quarter. Institutional investors own 96.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 24th. UBS Group lifted their price objective on shares of Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the stock a "neutral" rating in a research report on Monday, September 21st. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 16th. 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 report on Friday, September 25th. Finally, Piper Sandler reissued a "neutral" rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and three have given 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 price target of $50.86.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL opened at $67.92 on Friday. The stock has a market cap of $1.52 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $73.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.24 and a current ratio of 0.58. The stock has a fifty day moving average of $57.72 and a 200-day moving average of $43.44.

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 EPS for the quarter, topping the consensus estimate of $0.17 by $0.82. The business had revenue of $849.34 million during the quarter, compared to the consensus estimate of $834.57 million. Cracker Barrel Old Country Store had a return on equity of 4.01% and a net margin of 0.95%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. Equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 1.56 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 71.43%.

Insider Activity at Cracker Barrel Old Country Store

In other news, SVP Donna Roberts sold 3,500 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $52.08, for a total transaction of $182,280.00. Following the completion of the transaction, the senior vice president owned 43,702 shares of the company's stock, valued at approximately $2,276,000.16. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.30% of the company's stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates full-service restaurants combined with retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve homestyle, Southern-inspired food, including breakfast, lunch and dinner offerings, along with beverages and seasonal menu items.

The company's adjoining retail stores sell a range of merchandise, including home décor, apparel, gifts, toys, food products and other items associated with country living and traditional American culture.

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