Meadowbrook Wealth Management LLC Buys Shares of 9,621 Cracker Barrel Old Country Store, Inc. $CBRL

Meadowbrook Wealth Management LLC purchased a new stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the second quarter, HoldingsChannel.com reports. The firm purchased 9,621 shares of the restaurant operator’s stock, valued at approximately $530,000.

A number of other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. increased its holdings in Cracker Barrel Old Country Store by 1,068.2% in the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock valued at $74,655,000 after purchasing an additional 1,117,617 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Cracker Barrel Old Country Store by 13,737.1% during the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after buying an additional 923,409 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at about $43,930,000. Marshall Wace LLP acquired a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at approximately $5,225,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at approximately $3,962,000. 96.01% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Trading Up 2.5%

NASDAQ:CBRL opened at $57.78 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19. The business’s 50-day simple moving average is $47.20 and its 200-day simple moving average is $36.31. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $63.61. The stock has a market capitalization of $1.29 billion, a PE ratio of 49.81 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.74. The business 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%.Cracker Barrel Old Country Store’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted 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 report on Wednesday, July 22nd. Bank of America increased their target price on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday, June 15th. Weiss Ratings raised shares of Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 8th. Freedom Capital raised shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a report on Monday, April 6th. Finally, Argus upped their price objective on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.14.

About Cracker Barrel Old Country Store

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.