Lazard Asset Management LLC Takes Position in Cracker Barrel Old Country Store, Inc. $CBRL

Lazard Asset Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the restaurant operator’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 321 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Cracker Barrel Old Country Store by 8.4% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock worth $409,000 after acquiring an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cracker Barrel Old Country Store by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after acquiring an additional 546 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at about $37,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cracker Barrel Old Country Store in the third quarter valued at about $26,000. Institutional investors own 96.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CBRL shares. Bank of America raised their price target on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Piper Sandler reiterated a “neutral” rating and issued a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their target price on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Cracker Barrel Old Country Store in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.14.

Cracker Barrel Old Country Store Trading Down 0.7%

NASDAQ:CBRL opened at $57.79 on Friday. Cracker Barrel Old Country Store, Inc. has a 12 month low of $24.85 and a 12 month high of $63.61. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $49.12 and its 200 day moving average is $36.94. The stock has a market capitalization of $1.29 billion, a PE ratio of 49.82 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.74. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The business had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. During the same period in the prior year, the company earned $0.56 earnings per share. Cracker Barrel Old Country Store’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

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

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.