Brookstone Capital Management Lowers Holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Brookstone Capital Management trimmed its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 47.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,389 shares of the restaurant operator’s stock after selling 1,241 shares during the quarter. Brookstone Capital Management’s holdings in Cracker Barrel Old Country Store were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CBRL. Eqis Capital Management Inc. raised its position in shares of Cracker Barrel Old Country Store by 5.1% in the 2nd quarter. Eqis Capital Management Inc. now owns 2,429 shares of the restaurant operator’s stock worth $415,000 after acquiring an additional 117 shares in the last quarter. AMP Capital Investors Ltd acquired a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at about $512,000. AE Wealth Management LLC increased its holdings in shares of Cracker Barrel Old Country Store by 5.1% in the second quarter. AE Wealth Management LLC now owns 2,288 shares of the restaurant operator’s stock valued at $391,000 after purchasing an additional 112 shares during the period. Bessemer Group Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 0.8% in the second quarter. Bessemer Group Inc. now owns 430,078 shares of the restaurant operator’s stock valued at $73,427,000 after purchasing an additional 3,391 shares during the period. Finally, Ledyard National Bank increased its holdings in shares of Cracker Barrel Old Country Store by 7.3% in the second quarter. Ledyard National Bank now owns 21,819 shares of the restaurant operator’s stock valued at $3,726,000 after purchasing an additional 1,480 shares during the period. Institutional investors and hedge funds own 84.91% of the company’s stock.

A number of research analysts have recently weighed in on the company. MKM Partners assumed coverage on Cracker Barrel Old Country Store in a report on Thursday, September 26th. They issued a “neutral” rating and a $160.00 price objective on the stock. Wells Fargo & Co increased their price objective on Cracker Barrel Old Country Store from $150.00 to $155.00 and gave the company a “market perform” rating in a report on Wednesday, September 18th. Maxim Group reissued a “buy” rating and issued a $195.00 price objective on shares of Cracker Barrel Old Country Store in a report on Tuesday, October 15th. ValuEngine upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, BidaskClub downgraded Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $173.96.

Shares of CBRL opened at $161.47 on Wednesday. Cracker Barrel Old Country Store, Inc. has a 52 week low of $150.43 and a 52 week high of $185.00. The company has a quick ratio of 0.22, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.69 and a beta of 0.60. The stock’s 50-day moving average price is $162.05 and its 200-day moving average price is $165.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.27. Cracker Barrel Old Country Store had a return on equity of 36.01% and a net margin of 7.27%. The firm had revenue of $787.10 million for the quarter, compared to the consensus estimate of $781.90 million. During the same quarter in the prior year, the business earned $2.19 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 9.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 18th will be paid a $1.30 dividend. The ex-dividend date is Thursday, October 17th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.22%. Cracker Barrel Old Country Store’s payout ratio is 56.09%.

In other Cracker Barrel Old Country Store news, CEO Sandra B. Cochran sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.04, for a total transaction of $3,280,800.00. Following the transaction, the chief executive officer now owns 153,828 shares in the company, valued at $25,233,945.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sardar Biglari sold 68,630 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $170.13, for a total value of $11,676,021.90. The disclosure for this sale can be found here. Insiders sold 97,637 shares of company stock worth $16,451,534 in the last 90 days. Company insiders own 0.87% of the company’s stock.

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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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Institutional Ownership by Quarter for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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