Meeder Asset Management Inc. Invests $901,000 in Cracker Barrel Old Country Store, Inc. (CBRL) Stock

Meeder Asset Management Inc. purchased a new stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,577 shares of the restaurant operator’s stock, valued at approximately $901,000.

Several other large investors have also recently modified their holdings of the stock. Fox Run Management L.L.C. acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $398,000. Mackay Shields LLC acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $6,624,000. Renaissance Technologies LLC acquired a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter worth $12,084,000. Bank of America Corp DE grew its stake in Cracker Barrel Old Country Store by 21.2% in the 4th quarter. Bank of America Corp DE now owns 69,576 shares of the restaurant operator’s stock valued at $11,122,000 after buying an additional 12,159 shares during the last quarter. Finally, Doyle Wealth Management acquired a new position in Cracker Barrel Old Country Store in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 84.40% of the company’s stock.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $169.37, for a total value of $4,234,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 189,456 shares of company stock valued at $32,240,260 over the last three months. 0.88% of the stock is currently owned by insiders.

Shares of NASDAQ:CBRL traded up $0.54 during midday trading on Friday, reaching $169.53. 214,178 shares of the company’s stock were exchanged, compared to its average volume of 353,747. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.89 and a beta of 0.50. Cracker Barrel Old Country Store, Inc. has a 12 month low of $141.63 and a 12 month high of $185.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.55 and a current ratio of 0.94.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, February 26th. The restaurant operator reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.06. Cracker Barrel Old Country Store had a net margin of 7.09% and a return on equity of 34.20%. The company had revenue of $811.70 million during the quarter, compared to the consensus estimate of $810.49 million. During the same period last year, the firm earned $2.73 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Cracker Barrel Old Country Store, Inc. will post 8.95 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Friday, April 19th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.95%. The ex-dividend date was Wednesday, April 17th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 56.37%.

CBRL has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. ValuEngine lowered shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. BidaskClub downgraded shares of Cracker Barrel Old Country Store from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 31st. Maxim Group reissued a “hold” rating and issued a $180.00 price target (up from $175.00) on shares of Cracker Barrel Old Country Store in a report on Tuesday, February 19th. Finally, Wells Fargo & Co reduced their price target on shares of Cracker Barrel Old Country Store from $157.00 to $150.00 and set a “market perform” rating for the company in a report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Cracker Barrel Old Country Store presently has an average rating of “Hold” and an average target price of $169.82.

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Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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

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