Cracker Barrel Old Country Store, Inc. $CBRL Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC reduced its stake in Cracker Barrel Old Country Store by 7.4%, owning 2.26% of the company worth approximately $30.8 million after selling over 40,000 shares.
• Cracker Barrel announced a quarterly dividend of $0.25 per share, with an annualized yield of 2.5%, set to be paid on November 12th.
• Several brokerages have recently adjusted their ratings and target prices for Cracker Barrel, with a consensus target of $50.88 and ratings ranging from "Buy" to "Sell".

William Blair Investment Management LLC lessened its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 7.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 504,357 shares of the restaurant operator's stock after selling 40,328 shares during the period. William Blair Investment Management LLC owned about 2.26% of Cracker Barrel Old Country Store worth $30,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at $25,000. Brooklyn Investment Group acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $45,000. Russell Investments Group Ltd. raised its stake in Cracker Barrel Old Country Store by 360.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator's stock valued at $46,000 after purchasing an additional 922 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 96.01% of the company's stock.

Cracker Barrel Old Country Store Trading Down 1.7%

NASDAQ CBRL opened at $39.62 on Friday. Cracker Barrel Old Country Store, Inc. has a 1-year low of $33.85 and a 1-year high of $71.93. 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 company has a market capitalization of $882.30 million, a PE ratio of 19.14 and a beta of 1.32. The firm's fifty day simple moving average is $50.16 and its 200-day simple moving average is $53.10.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. The business had revenue of $845.09 million for the quarter. As a group, sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Friday, October 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 17th. Cracker Barrel Old Country Store's dividend payout ratio is presently 48.31%.

Analysts Set New Price Targets

Several brokerages have issued reports on CBRL. Wells Fargo & Company began coverage on shares of Cracker Barrel Old Country Store in a research note on Friday. They set an "equal weight" rating and a $42.00 target price on the stock. Zacks Research downgraded shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong sell" rating in a research note on Friday, September 19th. Argus cut their target price on shares of Cracker Barrel Old Country Store from $62.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, September 29th. UBS Group reissued a "neutral" rating and set a $69.00 target price (up from $60.00) on shares of Cracker Barrel Old Country Store in a research note on Monday, July 14th. Finally, Truist Financial set a $58.00 price target on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of "Reduce" and an average price target of $50.88.

Cracker Barrel Old Country Store Company Profile

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.

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