Royal Bank of Canada Raises Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

by · The Markets Daily

Royal Bank of Canada increased its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Free Report) by 55.0% in the 1st quarter, HoldingsChannel reports. The firm owned 153,397 shares of the restaurant operator’s stock after buying an additional 54,431 shares during the quarter. Royal Bank of Canada’s holdings in Cracker Barrel Old Country Store were worth $4,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CBRL. Maverick Capital Ltd. acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $251,000. Quantinno Capital Management LP purchased a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at $858,000. Lazard Asset Management LLC purchased a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at $281,000. Entropy Technologies LP purchased a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at $494,000. Finally, TCM Advisors LLC boosted its stake in shares of Cracker Barrel Old Country Store by 14.9% during the first quarter. TCM Advisors LLC now owns 12,318 shares of the restaurant operator’s stock valued at $346,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBRL. Argus boosted their target price on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. 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. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the stock a “sell” rating in a report on Tuesday, July 21st. Bank of America boosted their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Finally, Wells Fargo & Company upped their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.14.

Check Out Our Latest Analysis on Cracker Barrel Old Country Store

Cracker Barrel Old Country Store Stock Performance

NASDAQ CBRL opened at $58.40 on Friday. The business’s 50-day moving average price is $51.00 and its 200 day moving average price is $37.68. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. Cracker Barrel Old Country Store, Inc. has a twelve month low of $24.85 and a twelve month high of $63.61. The company has a market capitalization of $1.31 billion, a PE ratio of 50.35 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.45) by $0.74. The company had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. On average, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Friday, July 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 1.7%. Cracker Barrel Old Country Store’s dividend payout ratio is 86.21%.

About Cracker Barrel Old Country Store

(Free Report)

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.

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