Meadowbrook Wealth Management LLC Purchases Shares of 9,621 Cracker Barrel Old Country Store, Inc. $CBRL

Meadowbrook Wealth Management LLC acquired a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,621 shares of the restaurant operator’s stock, valued at approximately $530,000.

Several other hedge funds have also recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter worth about $26,000. Axiom Investment Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new position in Cracker Barrel Old Country Store during the 4th quarter valued at about $35,000. Finally, PNC Financial Services Group Inc. boosted its position in Cracker Barrel Old Country Store by 22.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 321 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Stock Up 2.5%

Shares of CBRL opened at $57.78 on Tuesday. The business’s fifty day moving average price is $47.20 and its two-hundred day moving average price is $36.31. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 49.81 and a beta of 1.20. Cracker Barrel Old Country Store, Inc. has a 52 week low of $24.85 and a 52 week high of $63.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.74. The company had revenue of $797.37 million during the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, analysts predict that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 17th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 86.21%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CBRL shares. Bank of America raised their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday, June 15th. Citigroup lifted their price objective on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a “sell” rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their target price on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Freedom Capital upgraded shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.14.

Cracker Barrel Old Country Store Company 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.