Martingale Asset Management L P Purchases New Stake in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Martingale Asset Management L P invested approximately $419,000 in Cracker Barrel Old Country Store, acquiring 10,806 shares in the first quarter of the year.
• Analyst ratings for Cracker Barrel reflect mixed sentiment, with a consensus rating of "Hold" and a price target averaging around $55.14.
• Cracker Barrel reported earnings of $0.58 per share for the last quarter, significantly exceeding analysts’ expectations of $0.17, while revenues reached $821.10 million.

Martingale Asset Management L P bought a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,806 shares of the restaurant operator's stock, valued at approximately $419,000.

A number of other large investors also recently added to or reduced their stakes in CBRL. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at about $25,000. Brooklyn Investment Group acquired a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at approximately $45,000. Russell Investments Group Ltd. raised its position in shares of Cracker Barrel Old Country Store by 360.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator's stock valued at $46,000 after acquiring an additional 922 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at approximately $48,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Stock Down 3.6%

Shares of Cracker Barrel Old Country Store stock traded down $2.27 during trading hours on Thursday, reaching $60.06. 1,454,929 shares of the company's stock were exchanged, compared to its average volume of 1,540,283. The company has a 50 day moving average of $62.29 and a two-hundred day moving average of $52.26. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $33.85 and a fifty-two week high of $71.93. The company has a current ratio of 0.65, a quick ratio of 0.26 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.34 billion, a P/E ratio of 23.28 and a beta of 1.47.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.41. Cracker Barrel Old Country Store had a net margin of 1.65% and a return on equity of 16.83%. The business had revenue of $821.10 million during the quarter, compared to analysts' expectations of $824.65 million. During the same period last year, the business earned $0.88 earnings per share. The firm's revenue was up .5% on a year-over-year basis. Cracker Barrel Old Country Store has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Friday, July 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 1.7%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is currently 38.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CBRL shares. Loop Capital increased their price target on shares of 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. UBS Group reiterated a "neutral" rating and issued a $69.00 price target (up from $60.00) on shares of Cracker Barrel Old Country Store in a research report on Monday, July 14th. Bank of America increased their target price on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a research note on Friday, June 6th. Citigroup reissued a "sell" rating and set a $42.00 target price (up from $39.00) on shares of Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Finally, Truist Financial increased their target price on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of "Hold" and an average price target of $55.14.

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.