Lazard Asset Management LLC Takes Position in Cracker Barrel Old Country Store, Inc. $CBRL

Lazard Asset Management LLC acquired a new position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,000 shares of the restaurant operator’s stock, valued at approximately $281,000.

A number of other hedge funds have also bought and sold shares of CBRL. PNC Financial Services Group Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 22.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 321 shares during the period. Captrust Financial Advisors raised its stake in shares of Cracker Barrel Old Country Store by 8.4% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock valued at $409,000 after purchasing an additional 519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cracker Barrel Old Country Store by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after purchasing an additional 546 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Cracker Barrel Old Country Store in the 2nd quarter worth about $37,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Cracker Barrel Old Country Store in the 3rd quarter worth about $26,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CBRL. Wells Fargo & Company lifted their target price on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 8th. Piper Sandler reaffirmed a “neutral” rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Argus upped their target price on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has an average rating of “Hold” and an average price target of $48.14.

Cracker Barrel Old Country Store Price Performance

CBRL opened at $57.79 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.29 billion, a P/E ratio of 49.82 and a beta of 1.20. The stock has a 50-day moving average price of $49.12 and a 200-day moving average price of $36.94. Cracker Barrel Old Country Store, Inc. has a 12-month low of $24.85 and a 12-month high of $63.61.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.74. The company had revenue of $797.37 million during the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.Cracker Barrel Old Country Store’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. Equities analysts predict that Cracker Barrel Old Country Store, Inc. will post 0.01 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Friday, July 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Cracker Barrel Old Country Store’s dividend payout ratio is 86.21%.

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.