Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan reduced its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,270 shares of the restaurant operator’s stock after selling 2,010 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Cracker Barrel Old Country Store were worth $1,102,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. APG Asset Management N.V. bought a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at approximately $25,775,000. JLB & Associates Inc. acquired a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter worth approximately $8,181,000. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Cracker Barrel Old Country Store by 920.9% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 53,801 shares of the restaurant operator’s stock worth $8,996,000 after purchasing an additional 48,531 shares during the period. AXA lifted its position in shares of Cracker Barrel Old Country Store by 117.8% in the 2nd quarter. AXA now owns 70,800 shares of the restaurant operator’s stock worth $11,842,000 after purchasing an additional 38,300 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Cracker Barrel Old Country Store by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 906,343 shares of the restaurant operator’s stock worth $152,421,000 after purchasing an additional 37,551 shares during the period. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

In other Cracker Barrel Old Country Store news, CEO Sandra B. Cochran sold 36,794 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the transaction, the chief executive officer now directly owns 157,591 shares in the company, valued at $23,901,826.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Weiss sold 2,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $153.39, for a total transaction of $306,780.00. Following the transaction, the director now owns 11,758 shares in the company, valued at $1,803,559.62. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded down $0.59 on Thursday, reaching $162.20. 236,424 shares of the company traded hands, compared to its average volume of 298,000. The company has a market capitalization of $3,946.66, a price-to-earnings ratio of 19.84, a P/E/G ratio of 2.85 and a beta of 0.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.42 and a current ratio of 0.93. Cracker Barrel Old Country Store, Inc. has a one year low of $141.75 and a one year high of $175.04.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, November 21st. The restaurant operator reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.06. The business had revenue of $710.40 million for the quarter, compared to the consensus estimate of $718.85 million. Cracker Barrel Old Country Store had a net margin of 6.83% and a return on equity of 35.14%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. equities analysts predict that Cracker Barrel Old Country Store, Inc. will post 8.63 EPS for the current year.

Cracker Barrel Old Country Store declared that its Board of Directors has approved a share repurchase plan on Friday, September 29th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Friday, January 12th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, January 11th. Cracker Barrel Old Country Store’s payout ratio is 57.90%.

A number of brokerages have recently issued reports on CBRL. BidaskClub downgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Maxim Group reiterated a “hold” rating and set a $160.00 target price on shares of Cracker Barrel Old Country Store in a research report on Wednesday, November 22nd. Instinet reiterated a “neutral” rating and set a $158.00 target price (down previously from $162.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 14th. Longbow Research downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 22nd. Finally, SunTrust Banks restated a “hold” rating and set a $136.00 price target on shares of Cracker Barrel Old Country Store in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and a consensus price target of $155.25.

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Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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

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