JPMorgan Chase & Co. Reduces Position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

JPMorgan Chase & Co. cut its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 98.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,799 shares of the restaurant operator’s stock after selling 2,771,079 shares during the period. JPMorgan Chase & Co.’s holdings in Cracker Barrel Old Country Store were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in shares of Cracker Barrel Old Country Store by 22.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 247 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Cracker Barrel Old Country Store by 0.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator’s stock valued at $4,536,000 after purchasing an additional 321 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 26.3% in the 3rd quarter. nVerses Capital LLC now owns 2,400 shares of the restaurant operator’s stock valued at $109,000 after buying an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Cracker Barrel Old Country Store by 5.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,392 shares of the restaurant operator’s stock valued at $480,000 after buying an additional 618 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Cracker Barrel Old Country Store by 6.8% in the 2nd quarter. Creative Planning now owns 12,646 shares of the restaurant operator’s stock valued at $533,000 after buying an additional 804 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL opened at $59.70 on Friday. The company has a 50-day simple moving average of $53.84 and a 200-day simple moving average of $46.93. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $1.33 billion, a PE ratio of 32.98, a P/E/G ratio of 2.58 and a beta of 1.45. Cracker Barrel Old Country Store, Inc. has a 52-week low of $34.88 and a 52-week high of $82.98.

Cracker Barrel Old Country Store Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 55.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CBRL. StockNews.com cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, December 6th. Piper Sandler upped their target price on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Argus upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Monday, November 18th. Truist Financial increased their price target on shares of Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Loop Capital increased their price target on shares of Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.63.

Cracker Barrel Old Country Store Profile

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.