Pinnacle Holdings LLC Invests $1.64 Million in Cracker Barrel Old Country Store, Inc. $CBRL

Pinnacle Holdings LLC bought a new position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the second quarter, HoldingsChannel reports. The firm bought 30,757 shares of the restaurant operator’s stock, valued at approximately $1,639,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBRL. Quantbot Technologies LP acquired a new position in Cracker Barrel Old Country Store during the second quarter worth $2,065,000. Landscape Capital Management L.L.C. bought a new stake in shares of Cracker Barrel Old Country Store during the second quarter worth about $3,170,000. Ieq Capital LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter worth about $1,617,000. Allworth Financial LP bought a new position in Cracker Barrel Old Country Store in the 2nd quarter valued at about $115,000. Finally, Bank of New York Mellon Corp acquired a new position in Cracker Barrel Old Country Store during the 2nd quarter valued at about $7,444,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

Shares of Cracker Barrel Old Country Store stock opened at $57.65 on Monday. The stock has a market capitalization of $1.29 billion, a P/E ratio of 49.70 and a beta of 1.20. Cracker Barrel Old Country Store, Inc. has a 52-week low of $24.85 and a 52-week high of $63.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. The stock’s 50-day simple moving average is $53.06 and its 200 day simple moving average is $38.85.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.74. The firm had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. As a group, research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. Wells Fargo & Company increased their price target on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Saturday, June 13th. UBS Group reiterated a “neutral” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, July 28th. Finally, Piper Sandler reissued a “neutral” rating and set a $51.00 price target on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus price target of $48.14.

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.