Wedge Capital Management L L P NC Trims Stock Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Wedge Capital Management L L P NC sold 17.6% of its holdings in Cracker Barrel, reducing its ownership to approximately 36,078 shares valued at $2.2 million.
• Cracker Barrel's most recent earnings report showed an EPS of $0.74, missing analysts' expectations, while revenue was down 2.9% year-over-year at $868.01 million.
• The company announced a quarterly dividend of $0.25, which translates to an annualized yield of 2.3%, with the ex-dividend date set for October 17th.

Wedge Capital Management L L P NC reduced its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 17.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,078 shares of the restaurant operator's stock after selling 7,688 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.16% of Cracker Barrel Old Country Store worth $2,204,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GMT Capital Corp bought a new stake in shares of Cracker Barrel Old Country Store during the first quarter valued at about $78,750,000. Jump Financial LLC purchased a new position in Cracker Barrel Old Country Store during the first quarter valued at approximately $389,000. Trexquant Investment LP bought a new position in shares of Cracker Barrel Old Country Store in the first quarter worth about $4,795,000. Capital Investment Counsel Inc increased its stake in Cracker Barrel Old Country Store by 53.2% during the first quarter. Capital Investment Counsel Inc now owns 28,442 shares of the restaurant operator's stock worth $1,104,000 after acquiring an additional 9,875 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth about $342,000. Institutional investors own 96.01% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup dropped their price target on Cracker Barrel Old Country Store from $47.00 to $42.00 and set a "sell" rating on the stock in a research note on Thursday. Piper Sandler dropped their target price on Cracker Barrel Old Country Store from $56.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday. Truist Financial set a $58.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Thursday. Loop Capital lifted their price objective on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, June 6th. Finally, Wall Street Zen lowered Cracker Barrel Old Country Store from a "hold" rating to a "strong sell" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cracker Barrel Old Country Store currently has an average rating of "Hold" and an average target price of $52.43.

Cracker Barrel Old Country Store Price Performance

Shares of CBRL traded up $0.15 during mid-day trading on Monday, hitting $43.65. 1,629,954 shares of the company traded hands, compared to its average volume of 2,104,310. The business has a 50-day moving average of $57.91 and a 200 day moving average of $52.98. The company has a current ratio of 0.50, a quick ratio of 0.21 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $972.09 million, a price-to-earnings ratio of 21.09 and a beta of 1.41. Cracker Barrel Old Country Store, Inc. has a one year low of $33.85 and a one year high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings results on Wednesday, September 17th. The restaurant operator reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.03). Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. The firm had revenue of $868.01 million during the quarter, compared to the consensus estimate of $853.90 million. During the same quarter last year, the firm earned $0.98 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. Cracker Barrel Old Country Store has set its FY 2026 guidance at EPS. As a group, equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, October 17th. Cracker Barrel Old Country Store's payout ratio is 48.31%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.