Yorktown Management & Research Co Inc Invests $591,000 in Cracker Barrel Old Country Store, Inc. (CBRL)

Yorktown Management & Research Co Inc bought a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,900 shares of the restaurant operator’s stock, valued at approximately $591,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Cracker Barrel Old Country Store by 1.2% during the second quarter. Vanguard Group Inc. now owns 2,242,652 shares of the restaurant operator’s stock worth $375,084,000 after buying an additional 26,046 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Cracker Barrel Old Country Store by 4.3% during the second quarter. Ameriprise Financial Inc. now owns 906,343 shares of the restaurant operator’s stock worth $152,421,000 after buying an additional 37,551 shares during the last quarter. State Street Corp grew its stake in shares of Cracker Barrel Old Country Store by 2.9% during the second quarter. State Street Corp now owns 739,419 shares of the restaurant operator’s stock worth $123,663,000 after buying an additional 20,932 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Cracker Barrel Old Country Store by 3.8% during the second quarter. Wells Fargo & Company MN now owns 697,577 shares of the restaurant operator’s stock worth $116,671,000 after buying an additional 25,517 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cracker Barrel Old Country Store by 2.0% during the second quarter. Northern Trust Corp now owns 394,251 shares of the restaurant operator’s stock worth $65,939,000 after buying an additional 7,649 shares during the last quarter. 86.88% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Andrea Weiss sold 2,000 shares of the company’s stock in a transaction dated 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 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 36,794 shares of the company’s stock in a transaction dated 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 owns 157,591 shares in the company, valued at approximately $23,901,826.97. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

A number of analysts have weighed in on CBRL shares. BidaskClub cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Maxim Group reissued a “hold” rating and issued a $155.00 price objective (down previously from $170.00) on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 7th. Zacks Investment Research cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Bank of America Corporation reduced their price objective on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating on the stock in a research note on Monday, September 11th. Finally, Nomura reduced their price objective on shares of Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $160.20.

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Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ CBRL) traded down $6.41 on Wednesday, reaching $150.79. 896,300 shares of the company’s stock were exchanged, compared to its average volume of 292,698. Cracker Barrel Old Country Store, Inc. has a twelve month low of $141.75 and a twelve month high of $175.04. The company has a market capitalization of $3,787.62, a PE ratio of 18.76, a P/E/G ratio of 2.66 and a beta of 0.48. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, November 21st. The restaurant operator reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.06. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The firm had revenue of $710.40 million for the quarter, compared to analyst estimates of $718.85 million. During the same quarter in the prior year, the business earned $2.01 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. research analysts forecast that Cracker Barrel Old Country Store, Inc. will post 8.72 EPS for the current fiscal year.

Cracker Barrel Old Country Store announced that its board has authorized a share buyback program on Friday, September 29th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Friday, January 12th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.18%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 57.28%.

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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