Steward Partners Investment Advisory LLC Purchases New Position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Steward Partners Investment Advisory LLC purchased a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,095 shares of the restaurant operator’s stock, valued at approximately $186,000.

Other large investors have also made changes to their positions in the company. Edge Capital Group LLC grew its holdings in shares of Cracker Barrel Old Country Store by 38.3% during the 2nd quarter. Edge Capital Group LLC now owns 2,348 shares of the restaurant operator’s stock worth $401,000 after acquiring an additional 650 shares during the period. Bridge City Capital LLC bought a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter worth approximately $1,436,000. Strs Ohio boosted its position in shares of Cracker Barrel Old Country Store by 31.3% in the 2nd quarter. Strs Ohio now owns 2,100 shares of the restaurant operator’s stock worth $358,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Cracker Barrel Old Country Store by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 17,450 shares of the restaurant operator’s stock worth $2,979,000 after purchasing an additional 187 shares in the last quarter. Finally, Financial Consulate Inc. boosted its position in shares of Cracker Barrel Old Country Store by 16.2% in the 2nd quarter. Financial Consulate Inc. now owns 3,264 shares of the restaurant operator’s stock worth $557,000 after purchasing an additional 454 shares in the last quarter. Institutional investors own 82.21% of the company’s stock.

CBRL has been the topic of a number of analyst reports. BidaskClub raised Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Telsey Advisory Group cut Cracker Barrel Old Country Store from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $190.00 to $170.00 in a research report on Wednesday, June 5th. Zacks Investment Research raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Wells Fargo & Co boosted their price target on Cracker Barrel Old Country Store from $147.00 to $153.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 5th. Finally, Maxim Group reissued a “buy” rating and issued a $195.00 price target (up from $185.00) on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $171.96.

CBRL stock opened at $172.10 on Wednesday. The company has a market cap of $4.14 billion, a PE ratio of 19.40, a PEG ratio of 1.89 and a beta of 0.58. 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 0.62, a current ratio of 0.99 and a quick ratio of 0.57. The company has a 50 day simple moving average of $172.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.02. The business had revenue of $739.60 million for the quarter, compared to analysts’ expectations of $735.15 million. Cracker Barrel Old Country Store had a return on equity of 34.36% and a net margin of 7.10%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. As a group, analysts predict that Cracker Barrel Old Country Store, Inc. will post 9 EPS for the current year.

The firm also recently disclosed a special dividend, which was paid on Friday, August 2nd. Investors of record on Friday, July 19th were given a $3.00 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a yield of 3%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 58.62%.

Cracker Barrel Old Country Store announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 4th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the restaurant operator to purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

In related news, major shareholder Sardar Biglari sold 98,939 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $170.11, for a total value of $16,830,513.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,173,399 shares of company stock worth $201,096,228 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Cracker Barrel Old Country Store Company 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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