Fifth Third Bancorp Buys 28,849 Shares of Cracker Barrel Old Country Store, Inc. $CBRL

Fifth Third Bancorp boosted its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 5,188.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 29,405 shares of the restaurant operator’s stock after buying an additional 28,849 shares during the quarter. Fifth Third Bancorp’s holdings in Cracker Barrel Old Country Store were worth $827,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. increased its stake in shares of Cracker Barrel Old Country Store by 16.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 400 shares during the period. Captrust Financial Advisors lifted its stake in shares of Cracker Barrel Old Country Store by 8.4% in the second quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock worth $409,000 after acquiring an additional 519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cracker Barrel Old Country Store by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after acquiring an additional 546 shares during the period. Canada Pension Plan Investment Board bought a new stake in Cracker Barrel Old Country Store in the second quarter valued at approximately $37,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Cracker Barrel Old Country Store in the third quarter valued at approximately $26,000. Institutional investors own 96.01% of the company’s stock.

Analyst Ratings Changes

CBRL has been the subject of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $51.00 target price on shares of Cracker Barrel Old Country Store in a research report on Wednesday. UBS Group upped their price objective on shares of Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Weiss Ratings raised shares of Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store presently has an average rating of “Hold” and an average price target of $48.14.

Cracker Barrel Old Country Store Price Performance

Cracker Barrel Old Country Store stock opened at $53.71 on Monday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 46.30 and a beta of 1.20. Cracker Barrel Old Country Store, Inc. has a 52-week low of $24.85 and a 52-week high of $67.64. The stock’s 50 day moving average price is $44.21 and its two-hundred day moving average price is $35.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate 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 net margin of 0.79% and a return on equity of 2.78%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. On average, equities analysts predict that Cracker Barrel Old Country Store, Inc. will post -0.4 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

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