Vanguard Group Inc. Sells 444,859 Shares of Cracker Barrel Old Country Store, Inc. $CBRL

Key Points

• Vanguard Group cut its Cracker Barrel stake by 17.6% in the fourth quarter, selling 444,859 shares and leaving it with 2.08 million shares valued at about $52.8 million.
• Cracker Barrel’s latest earnings topped expectations, with EPS of $0.25 versus an expected loss, and revenue of $874.8 million came in above estimates, though sales were still down 7.9% year over year.
• Analysts remain mixed on the stock, with a consensus rating of Hold and an average price target of $37.75; the company also paid a quarterly dividend of $0.25, or $1.00 annualized, for a 3.3% yield.

Vanguard Group Inc. trimmed its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,077,158 shares of the restaurant operator's stock after selling 444,859 shares during the quarter. Vanguard Group Inc. owned 9.30% of Cracker Barrel Old Country Store worth $52,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Cracker Barrel Old Country Store by 85.1% during the 4th quarter. CWM LLC now owns 2,345 shares of the restaurant operator's stock valued at $60,000 after purchasing an additional 1,078 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Cracker Barrel Old Country Store by 129.4% during the 4th quarter. State of Alaska Department of Revenue now owns 25,705 shares of the restaurant operator's stock valued at $652,000 after purchasing an additional 14,500 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at $203,000. Newbridge Financial Services Group Inc. raised its stake in shares of Cracker Barrel Old Country Store by 16.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator's stock valued at $71,000 after purchasing an additional 400 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Cracker Barrel Old Country Store by 17.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 13,040 shares of the restaurant operator's stock valued at $331,000 after purchasing an additional 1,948 shares during the period. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL opened at $30.71 on Friday. The firm has a market capitalization of $686.37 million, a P/E ratio of -170.60 and a beta of 1.29. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.90. The stock's 50-day simple moving average is $29.15 and its two-hundred day simple moving average is $29.70. Cracker Barrel Old Country Store, Inc. has a twelve month low of $24.85 and a twelve month high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.35. Cracker Barrel Old Country Store had a positive return on equity of 4.25% and a negative net margin of 0.12%.The business had revenue of $874.82 million for the quarter, compared to analyst estimates of $862.89 million. During the same period in the prior year, the company earned $1.38 EPS. The company's quarterly revenue was down 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post -1.07 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Friday, April 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, April 10th. Cracker Barrel Old Country Store's dividend payout ratio is presently -555.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup upped their target price on 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. Benchmark restated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Thursday, March 5th. Wells Fargo & Company upped their target price on Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. Wall Street Zen lowered Cracker Barrel Old Country Store from a "sell" rating to a "strong sell" rating in a research note on Sunday, April 19th. Finally, 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 research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of "Hold" and a consensus target price of $37.75.

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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