Connable Office Inc. Invests $358,000 in Cracker Barrel Old Country Store, Inc. $CBRL

Connable Office Inc. acquired a new stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,863 shares of the restaurant operator’s stock, valued at approximately $358,000.

Several other institutional investors have also recently made changes to their positions in CBRL. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Cracker Barrel Old Country Store during the first quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in shares of Cracker Barrel Old Country Store during the first quarter valued at approximately $30,000. Assetmark Inc. grew its position in Cracker Barrel Old Country Store by 517.3% in the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 419 shares during the period. Meeder Asset Management Inc. bought a new stake in Cracker Barrel Old Country Store in the 1st quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. grew its position in shares of Cracker Barrel Old Country Store by 360.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock valued at $46,000 after acquiring an additional 922 shares during the period. Institutional investors own 96.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBRL. Wall Street Zen downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a report on Saturday, September 20th. Truist Financial set a $58.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 18th. UBS Group reaffirmed a “neutral” rating and set a $69.00 price objective (up from $60.00) on shares of Cracker Barrel Old Country Store in a report on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $50.88.

Cracker Barrel Old Country Store Trading Down 4.3%

Shares of Cracker Barrel Old Country Store stock opened at $32.24 on Tuesday. Cracker Barrel Old Country Store, Inc. has a 52-week low of $31.79 and a 52-week high of $71.93. The firm has a market cap of $717.95 million, a price-to-earnings ratio of 15.57 and a beta of 1.32. The company’s 50-day simple moving average is $45.02 and its 200-day simple moving average is $52.99. The company has a quick ratio of 0.21, a current ratio of 0.50 and a debt-to-equity ratio of 0.73.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. The business had revenue of $845.09 million during the quarter. Cracker Barrel Old Country Store had a return on equity of 15.48% and a net margin of 1.33%. As a group, equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. Cracker Barrel Old Country Store’s payout ratio is 48.31%.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.