GMT Capital Corp Sells 593,500 Shares of Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• GMT Capital Corp reduced its Cracker Barrel stake by 20.9% in the fourth quarter, selling 593,500 shares but still holding 2.24 million shares valued at about $56.9 million.
• Cracker Barrel’s latest quarterly results topped expectations, with EPS of $0.29 versus an expected loss and revenue of $797.4 million, though revenue still declined 2.9% from a year earlier.
• The company declared a quarterly dividend of $0.25 per share, while analyst sentiment remains mixed overall with a consensus rating of Hold and an average price target of $41.29.

GMT Capital Corp trimmed its holdings in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,240,200 shares of the restaurant operator's stock after selling 593,500 shares during the period. Cracker Barrel Old Country Store comprises about 3.0% of GMT Capital Corp's portfolio, making the stock its 12th largest position. GMT Capital Corp owned approximately 10.03% of Cracker Barrel Old Country Store worth $56,901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBRL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cracker Barrel Old Country Store by 4.3% during 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. Cetera Investment Advisers grew its holdings in Cracker Barrel Old Country Store by 64.6% during the 2nd quarter. Cetera Investment Advisers now owns 9,210 shares of the restaurant operator's stock worth $563,000 after acquiring an additional 3,614 shares in the last quarter. Norges Bank bought a new position in Cracker Barrel Old Country Store during the 2nd quarter worth about $843,000. New York State Common Retirement Fund grew its holdings in Cracker Barrel Old Country Store by 23.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,386 shares of the restaurant operator's stock worth $512,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Cracker Barrel Old Country Store by 76.0% during the 2nd quarter. Invesco Ltd. now owns 350,859 shares of the restaurant operator's stock worth $21,430,000 after acquiring an additional 151,463 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CBRL has been the topic of several recent research reports. Freedom Capital upgraded shares of Cracker Barrel Old Country Store to a "strong-buy" rating in a report on Monday, April 6th. Benchmark reissued a "hold" rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday. Weiss Ratings reissued a "sell (d+)" rating on shares of Cracker Barrel Old Country Store in a research report on Friday, March 27th. UBS Group increased their price target on shares of Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Argus increased their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $41.29.

Cracker Barrel Old Country Store Stock Performance

CBRL stock opened at $46.69 on Friday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 40.25 and a beta of 1.30. The firm has a 50-day simple moving average of $31.84 and a two-hundred day simple moving average of $30.26. Cracker Barrel Old Country Store, Inc. has a one year low of $24.85 and a one year high of $71.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.18 and a current ratio of 0.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.45) by $0.74. The business had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. On average, equities analysts forecast that Cracker Barrel Old Country Store, Inc. will post -1.26 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, July 17th. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 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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