PNC Financial Services Group Inc. grew its holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,186 shares of the restaurant operator’s stock after acquiring an additional 507 shares during the period. PNC Financial Services Group Inc.’s holdings in Cracker Barrel Old Country Store were worth $700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CBRL. BlackRock Inc. raised its position in Cracker Barrel Old Country Store by 18,784.9% in the first quarter. BlackRock Inc. now owns 2,252,783 shares of the restaurant operator’s stock worth $358,755,000 after acquiring an additional 2,240,854 shares during the period. Vanguard Group Inc. raised its position in Cracker Barrel Old Country Store by 15.3% in the first quarter. Vanguard Group Inc. now owns 2,216,606 shares of the restaurant operator’s stock worth $352,995,000 after acquiring an additional 294,756 shares during the period. AQR Capital Management LLC raised its position in Cracker Barrel Old Country Store by 77.7% in the first quarter. AQR Capital Management LLC now owns 413,559 shares of the restaurant operator’s stock worth $65,859,000 after acquiring an additional 180,824 shares during the period. Gotham Asset Management LLC raised its position in Cracker Barrel Old Country Store by 1,707.6% in the first quarter. Gotham Asset Management LLC now owns 75,252 shares of the restaurant operator’s stock worth $11,984,000 after acquiring an additional 71,089 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Cracker Barrel Old Country Store by 387.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 69,200 shares of the restaurant operator’s stock worth $11,020,000 after acquiring an additional 55,000 shares during the period. Institutional investors and hedge funds own 85.62% of the company’s stock.

In related news, CEO Sandra B. Cochran sold 36,794 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $151.67, for a total value of $5,580,545.98. Following the completion of the transaction, the chief executive officer now directly owns 157,591 shares in the company, valued at approximately $23,901,826.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrea Weiss sold 2,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $153.39, for a total transaction of $306,780.00. Following the completion of the transaction, the director now owns 11,758 shares of the company’s stock, valued at $1,803,559.62. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.05. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The firm had revenue of $743.20 million during the quarter, compared to analysts’ expectations of $746.72 million. During the same period in the previous year, the business posted $2.12 EPS. The business’s revenue was down .3% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Friday, October 13th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, October 12th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 57.28%.

Cracker Barrel Old Country Store declared that its board has authorized a share buyback program on Friday, September 29th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the restaurant operator to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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CBRL has been the topic of several recent research reports. BidaskClub upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Nomura initiated coverage on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $162.00 price target on the stock. Instinet initiated coverage on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $162.00 price target on the stock. Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a research report on Wednesday, July 12th. Finally, Maxim Group reiterated a “hold” rating and issued a $155.00 price target (down from $170.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 7th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $163.78.

Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

Institutional Ownership by Quarter for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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