Meros Investment Management LP Buys Shares of 159,326 Cracker Barrel Old Country Store, Inc. $CBRL

Meros Investment Management LP bought a new stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the second quarter, HoldingsChannel.com reports. The fund bought 159,326 shares of the restaurant operator’s stock, valued at approximately $8,492,076,000. Cracker Barrel Old Country Store comprises 2.7% of Meros Investment Management LP’s holdings, making the stock its 12th biggest holding.

Several other institutional investors also recently made changes to their positions in CBRL. Hsbc Holdings PLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 2nd quarter worth approximately $403,000. PDT Partners LLC acquired a new position in Cracker Barrel Old Country Store during the 2nd quarter valued at approximately $3,245,000. Canada Pension Plan Investment Board acquired a new position in Cracker Barrel Old Country Store during the 2nd quarter valued at approximately $341,000. Legal & General Group Plc bought a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $2,867,000. Finally, The Manufacturers Life Insurance Company bought a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $315,000. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Stock Performance

CBRL stock opened at $58.27 on Wednesday. The company has a market capitalization of $1.30 billion, a P/E ratio of 50.23 and a beta of 1.20. The company has a 50-day simple moving average of $53.64 and a 200 day simple moving average of $39.21. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $63.15. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Saturday, June 13th. Bank of America upped their price target on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. UBS Group reaffirmed a “neutral” rating on shares of Cracker Barrel Old Country Store in a report on Tuesday, July 28th. Piper Sandler reiterated a “neutral” rating and issued a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Finally, Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Cracker Barrel Old Country Store currently has an average rating of “Hold” and an average target price of $48.14.

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.