Northern Trust Corp Lowers Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Northern Trust Corp has reduced its stake in Cracker Barrel Old Country Store, Inc. by 2.6%, now holding 239,926 shares valued at $9.31 million.
• Cracker Barrel reported $0.58 earnings per share for its latest quarter, exceeding estimates by $0.41, while revenue reached $821.10 million.
• Analysts have varying outlooks on Cracker Barrel, with price targets ranging from $42 to $69, and an average rating of "Hold" from research firms.

Northern Trust Corp decreased its holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 239,926 shares of the restaurant operator's stock after selling 6,301 shares during the quarter. Northern Trust Corp owned 1.08% of Cracker Barrel Old Country Store worth $9,314,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CBRL. Whittier Trust Co. of Nevada Inc. acquired a new position in Cracker Barrel Old Country Store in the 1st quarter worth about $25,000. Brooklyn Investment Group acquired a new position in Cracker Barrel Old Country Store in the 1st quarter worth about $30,000. Meeder Asset Management Inc. acquired a new position in Cracker Barrel Old Country Store in the 1st quarter worth about $45,000. Russell Investments Group Ltd. raised its holdings in shares of Cracker Barrel Old Country Store by 360.2% during the first 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 last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Cracker Barrel Old Country Store during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 96.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CBRL. Citigroup increased their target price on Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the company a "sell" rating in a report on Monday. UBS Group reissued a "neutral" rating and set a $69.00 target price (up previously from $60.00) on shares of Cracker Barrel Old Country Store in a report on Monday, July 14th. Truist Financial increased their target price on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a report on Friday, June 13th. Loop Capital increased their target price on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a report on Friday, June 6th. Finally, Bank of America increased their target price on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an "underperform" rating in a report on Friday, June 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Cracker Barrel Old Country Store has an average rating of "Hold" and an average price target of $55.86.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ:CBRL traded down $1.91 during midday trading on Monday, hitting $50.90. The company had a trading volume of 1,506,607 shares, compared to its average volume of 1,745,080. Cracker Barrel Old Country Store, Inc. has a twelve month low of $33.85 and a twelve month high of $71.93. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.65 and a quick ratio of 0.26. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 19.73 and a beta of 1.41. The business's 50-day simple moving average is $61.45 and its 200-day simple moving average is $52.61.

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

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.