PNC Financial Services Group Inc. Boosts Stock Holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

PNC Financial Services Group Inc. raised its stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,667 shares of the restaurant operator’s stock after purchasing an additional 582 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cracker Barrel Old Country Store were worth $283,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CBRL. HighTower Advisors LLC grew its position in Cracker Barrel Old Country Store by 4.4% during the third quarter. HighTower Advisors LLC now owns 5,922 shares of the restaurant operator’s stock valued at $394,000 after acquiring an additional 251 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Cracker Barrel Old Country Store by 162.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 74,661 shares of the restaurant operator’s stock worth $5,017,000 after purchasing an additional 46,232 shares during the period. Stifel Financial Corp increased its position in Cracker Barrel Old Country Store by 16.6% during the 3rd quarter. Stifel Financial Corp now owns 40,643 shares of the restaurant operator’s stock worth $2,731,000 after purchasing an additional 5,789 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cracker Barrel Old Country Store in the third quarter valued at approximately $666,000. Finally, Natixis Advisors L.P. lifted its position in Cracker Barrel Old Country Store by 6.1% during the third quarter. Natixis Advisors L.P. now owns 19,850 shares of the restaurant operator’s stock valued at $1,334,000 after buying an additional 1,148 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CBRL has been the subject of several recent research reports. Bank of America dropped their price objective on shares of Cracker Barrel Old Country Store from $72.00 to $62.00 and set an “underperform” rating for the company in a research report on Thursday, May 16th. Piper Sandler cut their price objective on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, March 4th. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday. Benchmark upgraded Cracker Barrel Old Country Store to a “hold” rating in a research note on Monday, June 3rd. Finally, Truist Financial reduced their price target on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.14.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL opened at $42.16 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. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $98.60. The business has a 50 day moving average price of $50.43 and a two-hundred day moving average price of $64.39. The firm has a market cap of $936.04 million, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.46.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.32. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The business had revenue of $817.14 million during the quarter, compared to analyst estimates of $820.61 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. Sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post 3.88 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 36.90%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.