Wellington Management Group LLP Reduces Holdings in Cracker Barrel Old Country Store, Inc. $CBRL

Wellington Management Group LLP lowered its position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 73.3% in the second quarter, Holdings Channel reports. The institutional investor owned 301,136 shares of the restaurant operator’s stock after selling 827,185 shares during the quarter. Wellington Management Group LLP’s holdings in Cracker Barrel Old Country Store were worth $16,051,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in Cracker Barrel Old Country Store by 19.5% in the third quarter. Alliancebernstein L.P. now owns 1,459,983 shares of the restaurant operator’s stock valued at $64,327,000 after acquiring an additional 237,741 shares during the last quarter. Franklin Resources Inc. grew its position in Cracker Barrel Old Country Store by 13,737.1% in the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after acquiring an additional 923,409 shares during the period. State Street Corp increased its stake in Cracker Barrel Old Country Store by 1.1% during the fourth quarter. State Street Corp now owns 872,995 shares of the restaurant operator’s stock worth $22,174,000 after acquiring an additional 9,332 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cracker Barrel Old Country Store by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 743,413 shares of the restaurant operator’s stock worth $32,756,000 after acquiring an additional 15,661 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Cracker Barrel Old Country Store in the second quarter valued at $43,930,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Price Performance

NASDAQ:CBRL opened at $54.69 on Monday. Cracker Barrel Old Country Store, Inc. has a 52 week low of $24.85 and a 52 week high of $60.26. The stock’s fifty day moving average is $54.87 and its two-hundred day moving average is $40.49. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 47.15 and a beta of 1.19. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74. The business had revenue of $797.37 million during 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%.The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. Research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 0.07 EPS for the current year.

Wall Street Analyst Weigh In

CBRL has been the topic of several recent analyst reports. Weiss Ratings raised Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 8th. Zacks Research raised Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Citigroup boosted their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a “sell” rating in a report on Tuesday, July 21st. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company increased their target price on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and a consensus price target of $48.14.

Cracker Barrel Old Country Store 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.