Comerica Bank buys 4,263 shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Comerica Bank increased its stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Free Report) by 49.6% during the first quarter, the company said in its most recent filing with the Securities and Exchange Commission. The company owned 12,850 shares of the restaurant operator’s stock after acquiring an additional 4,263 shares during the same period. Comerica Bank owned about 0.06% of Cracker Barrel Old Country Store worth $935,000, according to its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their holdings in CBRL. Norges Bank acquired a new position in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $10,727,000. Verition Fund Management LLC increased its holdings in Cracker Barrel Old Country Store by 423.9% in the fourth quarter. Verition Fund Management LLC now owns 81,837 shares of the restaurant operator’s stock valued at $6,308,000 after purchasing an additional 66,215 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $3,854,000. Miller Howard Investments Inc. NY bought a new position in shares of Cracker Barrel Old Country Store in the first quarter valued at about $2,909,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at approximately $2,935,000. Institutional investors own 96.01% of the company’s shares.

Cracker Barrel Old Country Store Price Performance

NASDAQ CBRL shares opened at $38.15 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. The company’s 50-day moving average price is $43.52 and its 200-day moving average price is $57.07. The company has a market cap of $847.01 million, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43. Cracker Barrel Old Country Store, Inc. has a twelve-month low of $37.88 and a twelve-month high of $90.71.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last released its earnings results on Thursday, May 30. The restaurant operator reported earnings per share of $0.88 for the quarter, beating analysts’ consensus estimates of $0.56 by $0.32. Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The company had revenue of $817.14 million for the quarter, compared to analyst estimates of $820.61 million. During the same period last year, the company generated earnings per share of $1.21. The company’s revenue declined 1.9% compared to the same quarter last year. On average, analysts forecast that Cracker Barrel Old Country Store, Inc. will report earnings per share of $3.82 for the current year.

Cracker Barrel Old Country Store cuts dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 19th. This represents an annualized dividend of $1.00 and a yield of 2.62%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 36.90%.

Wall Street analysts comment

Several brokerage firms recently commented on CBRL. StockNews.com downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, July 19. Citigroup decreased their price target on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and gave the company a “sell” rating in a research note on Friday, May 31. Benchmark upgraded Cracker Barrel Old Country Store to a “hold” rating in a research report on Monday, June 3. Loop Capital decreased their price target on Cracker Barrel Old Country Store from $72.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, May 20. Finally, Argus downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6. Three equities analysts have rated the stock with a sell rating and seven have given a “hold” rating. The company has an average rating of “hold” and an average price target of $59.86, according to data from MarketBeat.

Check out our latest Cracker Barrel Old Country Store inventory report

Cracker Barrel Old Country Store Profile

(Free report)

Cracker Barrel Old Country Store, Inc. develops and operates the Cracker Barrel Old Country Store concept in the United States. Cracker Barrel stores consist of restaurants with a gift shop. The company’s restaurants serve breakfast, lunch and dinner daily and also offer take-out, pickup and delivery services.

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