Palisade Capital Management LLC NJ Sells 833 Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Palisade Capital Management LLC NJ decreased its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,092 shares of the restaurant operator’s stock after selling 833 shares during the period. Palisade Capital Management LLC NJ owned approximately 0.34% of Cracker Barrel Old Country Store worth $12,039,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. The PNC Financial Services Group Inc. increased its position in shares of Cracker Barrel Old Country Store by 1.3% during the first quarter. The PNC Financial Services Group Inc. now owns 5,885 shares of the restaurant operator’s stock worth $1,016,000 after acquiring an additional 76 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Cracker Barrel Old Country Store by 1.6% during the second quarter. Kestra Private Wealth Services LLC now owns 5,199 shares of the restaurant operator’s stock worth $772,000 after acquiring an additional 81 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Cracker Barrel Old Country Store by 1.5% during the second quarter. HighTower Advisors LLC now owns 6,032 shares of the restaurant operator’s stock worth $893,000 after purchasing an additional 88 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Cracker Barrel Old Country Store by 13.7% during the first quarter. First Horizon Advisors Inc. now owns 747 shares of the restaurant operator’s stock worth $128,000 after purchasing an additional 90 shares during the last quarter. Finally, Trust Investment Advisors boosted its holdings in Cracker Barrel Old Country Store by 1.9% during the second quarter. Trust Investment Advisors now owns 4,960 shares of the restaurant operator’s stock worth $736,000 after purchasing an additional 91 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

Several research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Cracker Barrel Old Country Store from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Wednesday. MKM Partners reduced their target price on shares of Cracker Barrel Old Country Store from $165.00 to $155.00 and set a “neutral” rating for the company in a report on Wednesday, September 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Cracker Barrel Old Country Store from $195.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday. Truist Securities cut their price target on shares of Cracker Barrel Old Country Store from $159.00 to $152.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Truist cut their price target on shares of Cracker Barrel Old Country Store from $178.00 to $159.00 and set a “hold” rating for the company in a research note on Wednesday, September 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $155.89.

NASDAQ CBRL opened at $144.94 on Friday. The firm has a 50-day moving average of $138.64 and a 200-day moving average of $152.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.03 and a current ratio of 1.32. The stock has a market cap of $3.44 billion, a PE ratio of 14.17 and a beta of 1.51. Cracker Barrel Old Country Store, Inc. has a 52-week low of $106.92 and a 52-week high of $178.82.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Monday, September 20th. The restaurant operator reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.08). The company had revenue of $784.40 million for the quarter, compared to analyst estimates of $794.07 million. Cracker Barrel Old Country Store had a return on equity of 8.61% and a net margin of 9.61%. The business’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.85) EPS. As a group, analysts predict that Cracker Barrel Old Country Store, Inc. will post 5.39 EPS for the current fiscal year.

Cracker Barrel Old Country Store declared that its board has approved a share repurchase program on Tuesday, September 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the restaurant operator to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 9th. Stockholders of record on Friday, October 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 21st. This is a boost from Cracker Barrel Old Country Store’s previous quarterly dividend of $1.00. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 196.08%.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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Institutional Ownership by Quarter for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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