Legal & General Group Plc Invests $2.87 Million in Cracker Barrel Old Country Store, Inc. $CBRL

Legal & General Group Plc bought a new stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the second quarter, Holdings Channel reports. The institutional investor bought 53,788 shares of the restaurant operator’s stock, valued at approximately $2,867,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBRL. Canada Pension Plan Investment Board bought a new stake in Cracker Barrel Old Country Store in the second quarter worth $37,000. Caitong International Asset Management Co. Ltd bought a new position in Cracker Barrel Old Country Store during the third quarter valued at $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. Finally, PNC Financial Services Group Inc. grew its stake 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 worth $50,000 after buying an additional 321 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBRL has been the topic of several recent research reports. Argus upped their target price on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Wall Street Zen upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Saturday, June 13th. Bank of America boosted their price objective on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th. Zacks Research upgraded Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.14.

Cracker Barrel Old Country Store Trading Up 1.2%

Shares of CBRL opened at $54.69 on Friday. Cracker Barrel Old Country Store, Inc. has a twelve month low of $24.85 and a twelve month high of $60.26. The company has a market cap of $1.22 billion, a P/E ratio of 47.15 and a beta of 1.19. 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 company’s fifty day simple moving average is $54.87 and its 200-day simple moving average is $40.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its 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 net margin of 0.79% and a return on equity of 2.78%. The firm had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. During the same quarter last year, the business earned $0.56 EPS. The business’s revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that Cracker Barrel Old Country Store, Inc. will post 0.07 EPS for the current year.

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.