Meros Investment Management LP Takes Position in Cracker Barrel Old Country Store, Inc. $CBRL

Meros Investment Management LP bought a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 159,326 shares of the restaurant operator’s stock, valued at approximately $8,492,076,000. Cracker Barrel Old Country Store makes up approximately 2.7% of Meros Investment Management LP’s investment portfolio, making the stock its 12th largest holding. Meros Investment Management LP owned about 0.71% of Cracker Barrel Old Country Store as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Cracker Barrel Old Country Store by 22.0% during 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 during the period. Captrust Financial Advisors boosted its position in Cracker Barrel Old Country Store by 8.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock valued at $409,000 after buying an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cracker Barrel Old Country Store by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock valued at $510,000 after acquiring an additional 546 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Cracker Barrel Old Country Store during the second quarter valued at about $37,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth about $26,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Stock Up 0.4%

NASDAQ:CBRL opened at $58.27 on Wednesday. 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 company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 50.23 and a beta of 1.20. Cracker Barrel Old Country Store, Inc. has a one year low of $24.85 and a one year high of $63.15. The stock has a 50-day simple moving average of $53.64 and a 200 day simple moving average of $39.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.74. The firm had revenue of $797.37 million for the quarter, compared to analysts’ expectations of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.Cracker Barrel Old Country Store’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Sell-side analysts predict that Cracker Barrel Old Country Store, Inc. will post 0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CBRL. Piper Sandler reiterated 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. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. Wells Fargo & Company upped their target price 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. Argus upped their target price on 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. Finally, Citigroup increased their target price on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a “sell” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.