Pinnacle Holdings LLC Purchases Shares of 28,000 Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Pinnacle Holdings LLC has acquired a new position in Cracker Barrel Old Country Store, purchasing 28,000 shares valued at approximately $1.09 million, representing 0.13% of the company as of the last quarter.
• Cracker Barrel reported $0.58 earnings per share for the latest quarter, significantly exceeding the consensus estimate of $0.17, while its revenue slightly missed expectations at $821.10 million.
• The company has announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 1.6%, with a dividend payout ratio of 38.76%.

Pinnacle Holdings LLC bought a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,000 shares of the restaurant operator's stock, valued at approximately $1,087,000. Pinnacle Holdings LLC owned approximately 0.13% of Cracker Barrel Old Country Store as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CBRL. Marshall Wace LLP increased its stake in Cracker Barrel Old Country Store by 151.9% during the 4th quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator's stock worth $40,544,000 after purchasing an additional 462,542 shares in the last quarter. Towle & Co. bought a new stake in Cracker Barrel Old Country Store during the 4th quarter worth approximately $13,575,000. Raymond James Financial Inc. bought a new stake in Cracker Barrel Old Country Store during the 4th quarter worth approximately $4,597,000. Woodline Partners LP acquired a new position in Cracker Barrel Old Country Store during the 4th quarter worth approximately $3,990,000. Finally, Dimensional Fund Advisors LP boosted its position in Cracker Barrel Old Country Store by 16.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 351,539 shares of the restaurant operator's stock worth $18,584,000 after acquiring an additional 50,905 shares during the last quarter. 96.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Loop Capital upped their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, June 6th. Truist Financial upped their price target on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Citigroup reaffirmed a "sell" rating and set a $42.00 price target (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. UBS Group reaffirmed a "neutral" rating and set a $69.00 price target (up previously from $60.00) on shares of Cracker Barrel Old Country Store in a research report on Monday, July 14th. Finally, Bank of America upped their price target on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Cracker Barrel Old Country Store currently has a consensus rating of "Hold" and an average target price of $55.14.

Cracker Barrel Old Country Store Stock Down 0.8%

Shares of NASDAQ CBRL traded down $0.4470 during trading hours on Wednesday, hitting $59.0230. The company had a trading volume of 280,024 shares, compared to its average volume of 965,831. The stock has a market capitalization of $1.31 billion, a P/E ratio of 22.88 and a beta of 1.47. The company has a quick ratio of 0.26, a current ratio of 0.65 and a debt-to-equity ratio of 1.04. Cracker Barrel Old Country Store, Inc. has a 1-year low of $33.85 and a 1-year high of $71.93. The firm's 50 day moving average is $62.20 and its 200-day moving average is $52.30.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.17 by $0.41. The company had revenue of $821.10 million during the quarter, compared to the consensus estimate of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%.The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Cracker Barrel Old Country Store has set its FY 2025 guidance at EPS. On average, analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio is presently 38.76%.

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.