UBS Group AG Grows Position in Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• UBS Group AG increased its stake in Cracker Barrel by 50.3% in the fourth quarter, buying 97,761 additional shares and bringing its total holding to 292,220 shares worth about $7.42 million.
• Institutional ownership remains dominant, with several other large investors also boosting their positions and hedge funds plus other institutions now owning 96.01% of the stock.
• Analysts are mixed on CBRL: the consensus rating is “Hold” with an average price target of $37.75, while recent reports ranged from “sell” to “strong buy.”

UBS Group AG grew its holdings in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 292,220 shares of the restaurant operator's stock after buying an additional 97,761 shares during the quarter. UBS Group AG owned 1.31% of Cracker Barrel Old Country Store worth $7,422,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in Cracker Barrel Old Country Store by 1,068.2% in the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator's stock worth $74,655,000 after purchasing an additional 1,117,617 shares in the last quarter. Franklin Resources Inc. increased its position in Cracker Barrel Old Country Store by 13,737.1% during the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator's stock valued at $40,982,000 after purchasing an additional 923,409 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at about $43,930,000. Allianz Asset Management GmbH raised its holdings in shares of Cracker Barrel Old Country Store by 66.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 456,278 shares of the restaurant operator's stock valued at $20,104,000 after purchasing an additional 182,533 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Cracker Barrel Old Country Store by 76.0% in the 2nd quarter. Invesco Ltd. now owns 350,859 shares of the restaurant operator's stock worth $21,430,000 after purchasing an additional 151,463 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBRL. UBS Group increased their price objective on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Citigroup boosted their price objective on shares of Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the stock a "sell" rating in a research note on Thursday, March 5th. Truist Financial upped their target price on Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Freedom Capital raised Cracker Barrel Old Country Store to a "strong-buy" rating in a research report on Monday, April 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Cracker Barrel Old Country Store in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of "Hold" and a consensus price target of $37.75.

Cracker Barrel Old Country Store Stock Down 4.5%

NASDAQ:CBRL opened at $29.32 on Tuesday. The company's 50-day simple moving average is $29.11 and its 200-day simple moving average is $29.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.18 and a current ratio of 0.49. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $71.93. The stock has a market capitalization of $655.30 million, a P/E ratio of -162.88 and a beta of 1.29.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.35. The business had revenue of $874.82 million for the quarter, compared to the consensus estimate of $862.89 million. Cracker Barrel Old Country Store had a positive return on equity of 4.25% and a negative net margin of 0.12%.The business's quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post -1.07 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, May 13th. Investors of record on Friday, April 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, April 10th. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently -555.56%.

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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