Gabelli Funds LLC Acquires Shares of 20,000 Cracker Barrel Old Country Store, Inc. $CBRL

Gabelli Funds LLC acquired a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the restaurant operator’s stock, valued at approximately $508,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the third quarter valued at about $26,000. Canada Pension Plan Investment Board bought a new stake in shares of Cracker Barrel Old Country Store during the second quarter valued at about $37,000. CWM LLC increased its position in shares of Cracker Barrel Old Country Store by 85.1% during the fourth quarter. CWM LLC now owns 2,345 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 1,078 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of Cracker Barrel Old Country Store by 16.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 400 shares during the period. Finally, State of Wyoming bought a new stake in shares of Cracker Barrel Old Country Store during the third quarter valued at about $84,000. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Stock Up 1.9%

CBRL stock opened at $32.39 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $29.28 and its 200 day moving average is $29.56. The stock has a market cap of $723.92 million, a price-to-earnings ratio of -179.93 and a beta of 1.29. Cracker Barrel Old Country Store, Inc. has a 1-year low of $24.85 and a 1-year high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.35. The company had revenue of $874.82 million for the quarter, compared to analysts’ expectations of $862.89 million. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. Cracker Barrel Old Country Store’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. Sell-side analysts predict that Cracker Barrel Old Country Store, Inc. will post -1.07 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Friday, April 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, April 10th. Cracker Barrel Old Country Store’s dividend payout ratio is -555.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CBRL. Citigroup upped their price target on Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, March 5th. Wall Street Zen cut Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 19th. Wells Fargo & Company upped their price target on Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Friday, March 27th. Finally, UBS Group upped their price target on Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and an average target price of $37.75.

Cracker Barrel Old Country Store Profile

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.