William Blair Investment Management LLC Cuts Stake in Cracker Barrel Old Country Store, Inc. $CBRL

William Blair Investment Management LLC cut its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 46.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 268,281 shares of the restaurant operator’s stock after selling 236,076 shares during the period. William Blair Investment Management LLC owned approximately 1.20% of Cracker Barrel Old Country Store worth $11,820,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its holdings 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. Canada Pension Plan Investment Board purchased a new position in shares of Cracker Barrel Old Country Store in the second quarter worth $37,000. Byrne Asset Management LLC bought a new position in shares of Cracker Barrel Old Country Store during the third quarter valued at $51,000. State of Wyoming bought a new position in shares of Cracker Barrel Old Country Store during the third quarter valued at $84,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the third quarter valued at $97,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Down 1.3%

Shares of CBRL stock opened at $32.29 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.16 and a debt-to-equity ratio of 0.93. Cracker Barrel Old Country Store, Inc. has a 12 month low of $24.85 and a 12 month high of $71.93. The stock has a market cap of $721.04 million, a P/E ratio of 43.05 and a beta of 1.24. The company has a 50 day simple moving average of $30.66 and a two-hundred day simple moving average of $36.47.

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

Insider Buying and Selling

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 value of $1,083,744.00. Following the transaction, the insider owned 2,240,200 shares of the company’s stock, valued at $57,259,512. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 296,800 shares of company stock valued at $7,874,104 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

CBRL has been the topic of several research analyst reports. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, January 20th. Gordon Haskett raised shares of Cracker Barrel Old Country Store to a “strong sell” rating in a report on Wednesday, December 10th. UBS Group dropped their target price on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Bank of America cut their target price on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating for the company in a research report on Friday, December 19th. Finally, Wells Fargo & Company lowered their price target on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $35.75.

About Cracker Barrel Old Country Store

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.