Cracker Barrel Old Country Store, Inc. $CBRL Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its Cracker Barrel stake by 132.1% in the first quarter, acquiring 70,987 additional shares for a total holding of 124,739 shares valued at approximately $3.5 million. Institutional investors collectively own 96.01% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $48.14. Recent targets range from $40 at Bank of America to $60 at Wells Fargo, while Citigroup maintained a sell rating despite raising its target to $42.
• Cracker Barrel reported quarterly EPS of $0.29, beating estimates by $0.74, and revenue of $797.37 million, though sales declined 2.9% year over year. The company also declared a quarterly dividend of $0.25 per share, equal to a 1.7% yield.

First Trust Advisors LP grew its holdings in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 132.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,739 shares of the restaurant operator's stock after buying an additional 70,987 shares during the period. First Trust Advisors LP owned 0.56% of Cracker Barrel Old Country Store worth $3,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBRL. PNC Financial Services Group Inc. raised its position in shares of 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 worth $50,000 after purchasing an additional 321 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of Cracker Barrel Old Country Store by 16.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator's stock valued at $71,000 after buying an additional 400 shares in the last quarter. Captrust Financial Advisors raised its position in Cracker Barrel Old Country Store by 8.4% during the second quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator's stock valued at $409,000 after buying an additional 519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cracker Barrel Old Country Store by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator's stock worth $510,000 after acquiring an additional 546 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Cracker Barrel Old Country Store in the 2nd quarter worth about $37,000. 96.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CBRL has been the topic of several research analyst reports. Bank of America lifted their target price on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th. Piper Sandler reaffirmed a "neutral" rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 8th. Finally, Citigroup boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $48.14.

Cracker Barrel Old Country Store Stock Up 2.9%

CBRL stock opened at $58.75 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. Cracker Barrel Old Country Store, Inc. has a 1 year low of $24.85 and a 1 year high of $63.61. The company has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $36.63. The firm has a market cap of $1.31 billion, a PE ratio of 50.65 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, topping 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 firm had revenue of $797.37 million for the quarter, compared to the consensus estimate of $776.69 million. During the same period in the prior year, the business posted $0.56 earnings per share. The business's quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 0.01 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, July 17th. Cracker Barrel Old Country Store's payout ratio is 86.21%.

Cracker Barrel Old Country Store 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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