The Manufacturers Life Insurance Company Trims Holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

The Manufacturers Life Insurance Company decreased its position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,927 shares of the restaurant operator’s stock after selling 276 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cracker Barrel Old Country Store were worth $419,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CBRL. Sterling Capital Management LLC raised its holdings in Cracker Barrel Old Country Store by 685.9% during the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 487 shares during the period. MetLife Investment Management LLC raised its stake in Cracker Barrel Old Country Store by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 13,371 shares of the restaurant operator’s stock valued at $707,000 after purchasing an additional 754 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Cracker Barrel Old Country Store by 1,601.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 913 shares in the last quarter. Legal & General Group Plc lifted its holdings in Cracker Barrel Old Country Store by 1.6% in the 4th quarter. Legal & General Group Plc now owns 61,573 shares of the restaurant operator’s stock worth $3,255,000 after purchasing an additional 941 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Cracker Barrel Old Country Store by 32.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,116 shares of the restaurant operator’s stock worth $218,000 after purchasing an additional 1,020 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Gmt Capital Corp purchased 31,800 shares of Cracker Barrel Old Country Store stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $37.31 per share, with a total value of $1,186,458.00. Following the transaction, the insider now owns 2,484,000 shares in the company, valued at approximately $92,678,040. The trade was a 1.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 385,307 shares of company stock valued at $15,679,910 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

CBRL stock opened at $57.18 on Friday. Cracker Barrel Old Country Store, Inc. has a 1-year low of $33.86 and a 1-year high of $65.43. The business has a 50-day moving average price of $42.77 and a 200 day moving average price of $48.92. The company has a market capitalization of $1.27 billion, a P/E ratio of 31.59, a PEG ratio of 8.36 and a beta of 1.36. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Friday, April 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Friday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 62.11%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CBRL. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Truist Financial upgraded Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $55.00 in a report on Monday, March 10th. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Loop Capital lowered their target price on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Finally, Citigroup boosted their price target on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.43.

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.