Meadowbrook Wealth Management LLC Takes $530,000 Position in 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 the company in its most recent Form 13F 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in CBRL. Alliancebernstein L.P. boosted its stake in Cracker Barrel Old Country Store by 19.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,459,983 shares of the restaurant operator’s stock worth $64,327,000 after purchasing an additional 237,741 shares during the period. Franklin Resources Inc. raised its stake in shares of Cracker Barrel Old Country Store by 13,737.1% in the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after purchasing an additional 923,409 shares during the period. State Street Corp raised its stake in shares of Cracker Barrel Old Country Store by 1.1% in the 4th quarter. State Street Corp now owns 872,995 shares of the restaurant operator’s stock valued at $22,174,000 after purchasing an additional 9,332 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cracker Barrel Old Country Store by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 743,413 shares of the restaurant operator’s stock valued at $32,756,000 after purchasing an additional 15,661 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at about $43,930,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CBRL shares. Piper Sandler reiterated a “neutral” rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Argus increased their target price on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cracker Barrel Old Country Store presently has an average rating of “Hold” and an average target price of $48.14.

Cracker Barrel Old Country Store Trading Up 1.2%

Shares of Cracker Barrel Old Country Store stock opened at $54.69 on Friday. Cracker Barrel Old Country Store, Inc. has a 12-month low of $24.85 and a 12-month high of $60.26. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $54.87 and its 200-day moving average is $40.43. The stock has a market cap of $1.22 billion, a P/E ratio of 47.15 and a beta of 1.19.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 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 analysts’ expectations of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. Equities research analysts predict that Cracker Barrel Old Country Store, Inc. will post 0.07 earnings per share for the current fiscal year.

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.