Naples Global Advisors LLC Trims Holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Posted by on Mar 30th, 2023

Naples Global Advisors LLC cut its stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Rating) by 17.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,239 shares of the restaurant operator’s stock after selling 1,349 shares during the quarter. Naples Global Advisors LLC’s holdings in Cracker Barrel Old Country Store were worth $591,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter valued at $27,000. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in Cracker Barrel Old Country Store during the third quarter worth about $32,000. Global Retirement Partners LLC lifted its stake in Cracker Barrel Old Country Store by 136.5% during the third quarter. Global Retirement Partners LLC now owns 369 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 213 shares during the last quarter. Signaturefd LLC lifted its stake in Cracker Barrel Old Country Store by 102.7% during the third quarter. Signaturefd LLC now owns 369 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 187 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Cracker Barrel Old Country Store by 43.4% during the third quarter. Quadrant Capital Group LLC now owns 370 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 112 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Stock Performance

CBRL stock opened at $112.96 on Thursday. The stock has a market capitalization of $2.50 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 4.67 and a beta of 1.36. Cracker Barrel Old Country Store, Inc. has a 12-month low of $81.87 and a 12-month high of $126.32. The company has a current ratio of 0.66, a quick ratio of 0.26 and a debt-to-equity ratio of 0.93. The stock’s 50 day simple moving average is $110.91 and its 200 day simple moving average is $106.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The restaurant operator reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $933.90 million for the quarter, compared to the consensus estimate of $917.47 million. Cracker Barrel Old Country Store had a return on equity of 23.55% and a net margin of 3.20%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.71 EPS. As a group, research analysts forecast that Cracker Barrel Old Country Store, Inc. will post 5.85 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 9th. Shareholders of record on Friday, April 14th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, April 13th. This represents a $5.20 dividend on an annualized basis and a yield of 4.60%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 108.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CBRL. Citigroup lifted their price objective on Cracker Barrel Old Country Store from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Wednesday, March 1st. StockNews.com began coverage on Cracker Barrel Old Country Store in a report on Thursday, March 16th. They issued a “hold” rating on the stock. UBS Group initiated coverage on Cracker Barrel Old Country Store in a report on Friday, December 16th. They issued a “neutral” rating and a $105.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Cracker Barrel Old Country Store from $100.00 to $110.00 in a report on Wednesday, March 1st. Finally, Truist Financial boosted their price target on Cracker Barrel Old Country Store from $101.00 to $105.00 in a report on Wednesday, March 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.00.

About Cracker Barrel Old Country Store

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Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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Institutional Ownership by Quarter for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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