Empowered Funds LLC Buys New Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Empowered Funds LLC purchased 91,074 shares of Cracker Barrel, valued at approximately $4.85 million, giving it a 0.41% stake. Institutional investors collectively own 96.01% of the company.
• Cracker Barrel reported quarterly revenue of $797.37 million and adjusted earnings of $0.29 per share, exceeding analyst expectations, although revenue declined 2.9% year over year.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a consensus price target of $48.14, below its reported market price of $55.24.

Empowered Funds LLC purchased a new position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 91,074 shares of the restaurant operator's stock, valued at approximately $4,854,000. Empowered Funds LLC owned approximately 0.41% of Cracker Barrel Old Country Store at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 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 valued at $50,000 after buying an additional 321 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Cracker Barrel Old Country Store by 8.4% in the second quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator's stock worth $409,000 after buying an additional 519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 worth $510,000 after acquiring an additional 546 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Cracker Barrel Old Country Store during the second quarter worth $37,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Cracker Barrel Old Country Store during the third quarter worth $26,000. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Price Performance

NASDAQ:CBRL opened at $55.24 on Tuesday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 47.62 and a beta of 1.20. Cracker Barrel Old Country Store, Inc. has a 1 year low of $24.85 and a 1 year high of $61.37. The business has a 50 day simple moving average of $54.44 and a 200-day simple moving average of $39.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBRL. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 8th. Wells Fargo & Company increased 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 report on Wednesday, July 22nd. Citigroup raised their price objective on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a "sell" rating in a research report on Tuesday, July 21st. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $51.00 target price on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Cracker Barrel Old Country Store has an average rating of "Hold" and a consensus price target of $48.14.

About Cracker Barrel Old Country Store

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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