Jupiter Asset Management Ltd. Acquires New Position in Cracker Barrel Old Country Store, Inc. $CBRL

Jupiter Asset Management Ltd. bought a new position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the third quarter, according to its most recent filing with the SEC. The firm bought 56,844 shares of the restaurant operator’s stock, valued at approximately $2,505,000. Jupiter Asset Management Ltd. owned approximately 0.26% of Cracker Barrel Old Country Store as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parvin Asset Management LLC raised its holdings in shares of Cracker Barrel Old Country Store by 4.4% in the second quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock worth $507,000 after buying an additional 350 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Cracker Barrel Old Country Store by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock worth $349,000 after acquiring an additional 389 shares during the last quarter. Assetmark Inc. raised its stake in Cracker Barrel Old Country Store by 517.3% in the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 419 shares during the last quarter. Arizona State Retirement System lifted its position in Cracker Barrel Old Country Store by 7.2% during the 3rd quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock worth $276,000 after acquiring an additional 419 shares during the period. Finally, Aviance Capital Partners LLC grew its stake in Cracker Barrel Old Country Store by 1.5% during the 2nd quarter. Aviance Capital Partners LLC now owns 33,961 shares of the restaurant operator’s stock valued at $2,074,000 after purchasing an additional 487 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL opened at $33.75 on Friday. The stock has a market capitalization of $753.64 million, a price-to-earnings ratio of 45.00 and a beta of 1.28. Cracker Barrel Old Country Store, Inc. has a 12 month low of $24.85 and a 12 month high of $71.93. The firm’s 50 day simple moving average is $30.00 and its 200-day simple moving average is $37.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.16.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. The firm had revenue of $797.19 million during the quarter, compared to analysts’ expectations of $806.71 million. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. Analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Insider Activity

In other news, major shareholder Gmt Capital Corp sold 42,400 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the sale, the insider directly owned 2,240,200 shares in the company, valued at $57,259,512. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 381,500 shares of company stock worth $10,258,409. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Gordon Haskett upgraded Cracker Barrel Old Country Store to a “strong sell” rating in a research note on Wednesday, December 10th. Piper Sandler reduced their price target on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, January 20th. Bank of America cut their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a research note on Friday, December 19th. Finally, Wells Fargo & Company decreased their target price on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $35.75.

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.