Cracker Barrel Old Country Store, Inc. (CBRL) Holdings Raised by Palisade Capital Management LLC NJ

Palisade Capital Management LLC NJ raised its position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,748 shares of the restaurant operator’s stock after acquiring an additional 1,233 shares during the period. Palisade Capital Management LLC NJ owned approximately 0.28% of Cracker Barrel Old Country Store worth $10,120,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Crawford Investment Counsel Inc. boosted its holdings in Cracker Barrel Old Country Store by 25.3% during the second quarter. Crawford Investment Counsel Inc. now owns 96,408 shares of the restaurant operator’s stock valued at $16,124,000 after acquiring an additional 19,437 shares during the period. Jensen Investment Management Inc. boosted its holdings in Cracker Barrel Old Country Store by 24.4% during the second quarter. Jensen Investment Management Inc. now owns 3,880 shares of the restaurant operator’s stock valued at $649,000 after acquiring an additional 760 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cracker Barrel Old Country Store by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 395,781 shares of the restaurant operator’s stock valued at $63,028,000 after acquiring an additional 11,236 shares during the period. Coldstream Capital Management Inc. bought a new stake in Cracker Barrel Old Country Store during the second quarter valued at about $701,000. Finally, HighTower Advisors LLC boosted its holdings in Cracker Barrel Old Country Store by 53.0% during the second quarter. HighTower Advisors LLC now owns 3,589 shares of the restaurant operator’s stock valued at $607,000 after acquiring an additional 1,244 shares during the period. Institutional investors own 86.31% of the company’s stock.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded down $0.37 during midday trading on Friday, hitting $156.07. 157,662 shares of the company traded hands, compared to its average volume of 285,278. The firm has a market cap of $3.76 billion, a P/E ratio of 18.61, a PEG ratio of 2.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.54.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.05. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The firm had revenue of $743.20 million during the quarter, compared to analyst estimates of $746.72 million. During the same quarter in the prior year, the firm earned $2.12 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts predict that Cracker Barrel Old Country Store, Inc. will post 8.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Friday, October 13th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, October 12th. Cracker Barrel Old Country Store’s dividend payout ratio is 57.28%.

Cracker Barrel Old Country Store announced that its board has initiated a stock buyback program on Friday, September 29th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the restaurant operator to purchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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A number of equities research analysts have issued reports on CBRL shares. Maxim Group restated a “hold” rating and set a $155.00 price target (down from $170.00) on shares of Cracker Barrel Old Country Store in a report on Thursday, September 7th. Zacks Investment Research cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Bank of America Corporation decreased their price target on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating for the company in a report on Monday, September 11th. Nomura started coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They set a “neutral” rating and a $162.00 price target for the company. Finally, BidaskClub cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and an average target price of $161.00.

In related news, Director Andrea Weiss sold 2,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $153.39, for a total value of $306,780.00. Following the completion of the sale, the director now directly owns 11,758 shares of the company’s stock, valued at approximately $1,803,559.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sandra B. Cochran sold 36,794 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the completion of the sale, the chief executive officer now directly owns 157,591 shares of the company’s stock, valued at $23,901,826.97. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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

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