Groesbeck Investment Management Corp NJ Acquires 4,420 Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Groesbeck Investment Management Corp NJ increased its holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 210.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,520 shares of the restaurant operator’s stock after purchasing an additional 4,420 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Cracker Barrel Old Country Store were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Municipal Employees Retirement System of Michigan grew its stake in shares of Cracker Barrel Old Country Store by 1.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,440 shares of the restaurant operator’s stock worth $758,000 after purchasing an additional 60 shares during the last quarter. Alpha Windward LLC grew its stake in shares of Cracker Barrel Old Country Store by 2.5% in the second quarter. Alpha Windward LLC now owns 2,919 shares of the restaurant operator’s stock worth $511,000 after purchasing an additional 70 shares during the last quarter. US Bancorp DE grew its stake in shares of Cracker Barrel Old Country Store by 3.0% in the second quarter. US Bancorp DE now owns 2,392 shares of the restaurant operator’s stock worth $408,000 after purchasing an additional 70 shares during the last quarter. 6 Meridian grew its stake in shares of Cracker Barrel Old Country Store by 2.6% in the second quarter. 6 Meridian now owns 2,916 shares of the restaurant operator’s stock worth $498,000 after purchasing an additional 73 shares during the last quarter. Finally, Laffer Investments grew its stake in shares of Cracker Barrel Old Country Store by 1.8% in the second quarter. Laffer Investments now owns 4,390 shares of the restaurant operator’s stock worth $750,000 after purchasing an additional 79 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.

In other news, CEO Sandra B. Cochran sold 9,007 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $165.95, for a total transaction of $1,494,711.65. Following the transaction, the chief executive officer now owns 153,514 shares in the company, valued at $25,475,648.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandra B. Cochran sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.04, for a total transaction of $3,280,800.00. Following the transaction, the chief executive officer now owns 153,828 shares in the company, valued at approximately $25,233,945.12. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Several analysts recently weighed in on the stock. MKM Partners assumed coverage on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 26th. They issued a “neutral” rating and a $160.00 price objective on the stock. Maxim Group reissued a “buy” rating and issued a $195.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Tuesday, October 15th. BidaskClub raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. SunTrust Banks upped their price target on shares of Cracker Barrel Old Country Store from $161.00 to $165.00 and gave the company a “hold” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Co upped their price target on shares of Cracker Barrel Old Country Store from $155.00 to $157.00 and gave the company a “market perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $174.25.

CBRL traded down $2.32 during trading on Monday, reaching $163.04. 227,220 shares of the stock traded hands, compared to its average volume of 379,859. The company has a quick ratio of 0.22, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.88 billion, a PE ratio of 17.59, a P/E/G ratio of 1.72 and a beta of 0.56. The stock’s 50-day moving average is $160.33 and its 200 day moving average is $165.87. Cracker Barrel Old Country Store, Inc. has a 12 month low of $150.43 and a 12 month high of $185.00.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.27. The business had revenue of $787.10 million for the quarter, compared to analysts’ expectations of $781.90 million. Cracker Barrel Old Country Store had a net margin of 7.27% and a return on equity of 36.01%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.19 earnings per share. As a group, equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 9.37 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 18th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $5.20 dividend on an annualized basis and a yield of 3.19%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 56.09%.

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 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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