Ieq Capital LLC Invests $1.62 Million in Cracker Barrel Old Country Store, Inc. $CBRL

Ieq Capital LLC acquired a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,339 shares of the restaurant operator’s stock, valued at approximately $1,617,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Cracker Barrel Old Country Store in the 3rd quarter worth approximately $26,000. Axiom Investment Management LLC purchased a new position in shares of Cracker Barrel Old Country Store in the 1st quarter worth $28,000. Hilton Head Capital Partners LLC purchased a new position in shares of Cracker Barrel Old Country Store in the 4th quarter worth $35,000. Canada Pension Plan Investment Board bought a new stake in shares of Cracker Barrel Old Country Store in the second quarter worth $37,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Cracker Barrel Old Country Store by 22.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Analyst Ratings Changes

CBRL has been the topic of a number of recent research reports. Weiss Ratings raised Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Piper Sandler restated a “neutral” rating and set a $51.00 price target on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price target on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. UBS Group reiterated a “neutral” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cracker Barrel Old Country Store currently has an average rating of “Hold” and a consensus price target of $48.14.

Cracker Barrel Old Country Store Price Performance

Shares of Cracker Barrel Old Country Store stock opened at $58.27 on Wednesday. The stock has a market cap of $1.30 billion, a P/E ratio of 50.23 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. The stock’s fifty day moving average is $53.64 and its 200 day moving average is $39.21. Cracker Barrel Old Country Store, Inc. has a one year low of $24.85 and a one year high of $63.15.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.74. The business had revenue of $797.37 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. Sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current year.

Cracker Barrel Old Country Store Company 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.