State Street Corp Sells 7,361 Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

State Street Corp cut its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 851,977 shares of the restaurant operator’s stock after selling 7,361 shares during the quarter. State Street Corp’s holdings in Cracker Barrel Old Country Store were worth $38,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP bought a new position in Cracker Barrel Old Country Store in the 2nd quarter worth $25,636,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after acquiring an additional 111,892 shares during the period. Maverick Capital Ltd. bought a new position in shares of Cracker Barrel Old Country Store in the third quarter worth about $4,498,000. Verition Fund Management LLC grew its position in shares of Cracker Barrel Old Country Store by 96.0% during the third quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock worth $7,299,000 after purchasing an additional 78,816 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Cracker Barrel Old Country Store during the 3rd quarter valued at approximately $2,526,000. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Trading Up 2.4 %

Shares of NASDAQ CBRL opened at $53.40 on Friday. Cracker Barrel Old Country Store, Inc. has a 1-year low of $34.88 and a 1-year high of $83.51. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. The business’s 50 day moving average is $49.54 and its two-hundred day moving average is $44.92. The stock has a market capitalization of $1.19 billion, a P/E ratio of 29.50, a PEG ratio of 2.15 and a beta of 1.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). The company had revenue of $894.39 million during the quarter, compared to analysts’ expectations of $898.94 million. Cracker Barrel Old Country Store had a return on equity of 18.61% and a net margin of 1.15%. Cracker Barrel Old Country Store’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.79 EPS. As a group, research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.82 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, January 17th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 55.25%.

Analyst Ratings Changes

CBRL has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Truist Financial lifted their price target on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a report on Friday, November 15th. Piper Sandler increased their price objective on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Argus upgraded Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Monday, November 18th. Finally, Bank of America boosted their target price on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.25.

About Cracker Barrel Old Country Store

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 restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.