Bessemer Group Inc. Sells 48,400 Shares of Cracker Barrel Old Country Store, Inc. $CBRL

Bessemer Group Inc. lessened its holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 42.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,309 shares of the restaurant operator’s stock after selling 48,400 shares during the quarter. Bessemer Group Inc. owned 0.30% of Cracker Barrel Old Country Store worth $1,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBRL. Alliancebernstein L.P. grew its holdings in Cracker Barrel Old Country Store by 1,068.2% during the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock worth $74,655,000 after acquiring an additional 1,117,617 shares during the period. Franklin Resources Inc. raised its position in shares of Cracker Barrel Old Country Store by 13,737.1% in the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after buying an additional 923,409 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter worth $43,930,000. Marshall Wace LLP acquired a new position in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $5,225,000. Finally, Bridgeway Capital Management LLC purchased a new position in Cracker Barrel Old Country Store during the fourth quarter worth about $3,962,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Down 1.4%

Shares of Cracker Barrel Old Country Store stock opened at $53.17 on Thursday. The business has a 50 day moving average price of $43.30 and a 200 day moving average price of $34.87. The company has a market capitalization of $1.19 billion, a P/E ratio of 45.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19. Cracker Barrel Old Country Store, Inc. has a 1 year low of $24.85 and a 1 year high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly 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. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The company had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post -0.83 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, July 17th. Cracker Barrel Old Country Store’s dividend payout ratio is 86.21%.

Wall Street Analysts Forecast Growth

CBRL has been the topic of a number of research reports. Citigroup increased their target price on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the stock a “sell” rating in a report on Tuesday. Freedom Capital upgraded shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research note on Monday, April 6th. Wells Fargo & Company increased their price objective on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. Finally, Bank of America upped their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.14.

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.