Cracker Barrel Old Country Store, Inc. $CBRL Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Cracker Barrel stake by 73.3% in the second quarter, selling 827,185 shares and retaining 301,136 shares valued at approximately $16.1 million. Institutional investors overall own 96.01% of the company.
• Cracker Barrel reported quarterly EPS of $0.29, exceeding the consensus estimate of a $0.45 loss, while revenue reached $797.37 million. However, revenue declined 2.9% year over year and the company’s net margin was just 0.79%.
• CBRL opened at $54.69, near its 52-week high of $60.26; analysts’ average rating remains “Hold”, with an average price target of $48.14.

Wellington Management Group LLP trimmed its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 73.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,136 shares of the restaurant operator's stock after selling 827,185 shares during the period. Wellington Management Group LLP owned 1.35% of Cracker Barrel Old Country Store worth $16,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CBRL. PNC Financial Services Group Inc. boosted its holdings in Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock worth $50,000 after buying an additional 321 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of 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 acquiring an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cracker Barrel Old Country Store by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator's stock valued at $510,000 after acquiring an additional 546 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at approximately $37,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 96.01% of the company's stock.

Cracker Barrel Old Country Store Price Performance

CBRL stock opened at $54.69 on Monday. Cracker Barrel Old Country Store, Inc. has a 1 year low of $24.85 and a 1 year high of $60.26. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19. The firm has a market capitalization of $1.22 billion, a PE ratio of 47.15 and a beta of 1.19. The business has a 50 day simple moving average of $54.87 and a 200-day simple moving average of $40.49.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.74. The firm had revenue of $797.37 million for the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The firm's revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. Equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 0.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CBRL. Piper Sandler reiterated a "neutral" rating and set a $51.00 price target on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Benchmark restated a "hold" rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. Citigroup lifted their target price on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the stock a "sell" rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Zacks Research raised shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a report on Monday, August 24th. Two 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's stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has an average rating of "Hold" and an average target price of $48.14.

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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