TCM Advisors LLC Makes New Investment in Cracker Barrel Old Country Store, Inc. $CBRL

TCM Advisors LLC purchased a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 12,518 shares of the restaurant operator’s stock, valued at approximately $667,000.

Several other institutional investors have also recently made changes to their positions in CBRL. Canada Pension Plan Investment Board bought a new stake in Cracker Barrel Old Country Store during the second quarter valued at $37,000. Caitong International Asset Management Co. Ltd bought a new position in Cracker Barrel Old Country Store in the 3rd quarter worth about $26,000. Axiom Investment Management LLC bought a new position in Cracker Barrel Old Country Store in the 1st quarter worth about $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at about $35,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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 acquiring an additional 321 shares in the last quarter. Institutional investors own 96.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CBRL shares. Wells Fargo & Company boosted their price objective on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. UBS Group restated a “neutral” rating on shares of Cracker Barrel Old Country Store in a research report on Tuesday, July 28th. Bank of America raised their target price on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th. Weiss Ratings upgraded 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. Finally, Piper Sandler reissued a “neutral” rating and issued a $51.00 price target on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.14.

Cracker Barrel Old Country Store Stock Performance

NASDAQ CBRL opened at $57.65 on Monday. The stock’s 50-day simple moving average is $53.06 and its two-hundred day simple moving average is $38.85. Cracker Barrel Old Country Store, Inc. has a twelve month low of $24.85 and a twelve month high of $63.15. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 49.70 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts forecast that Cracker Barrel Old Country Store, Inc. will post 0.01 EPS for the current fiscal 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.