Comerica Bank Buys 4,263 Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) (2024)

Posted by Defense World Staff on Aug 12th, 2024

Comerica Bank increased its stake in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Free Report) by 49.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,850 shares of the restaurant operator’s stock after purchasing an additional 4,263 shares during the period. Comerica Bank owned approximately 0.06% of Cracker Barrel Old Country Store worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CBRL. Norges Bank acquired a new position in shares of Cracker Barrel Old Country Store during the fourth quarter worth about $10,727,000. Verition Fund Management LLC lifted its stake in Cracker Barrel Old Country Store by 423.9% in the 4th quarter. Verition Fund Management LLC now owns 81,837 shares of the restaurant operator’s stock valued at $6,308,000 after acquiring an additional 66,215 shares in the last quarter. Armistice Capital LLC acquired a new position in Cracker Barrel Old Country Store during the 4th quarter worth approximately $3,854,000. Miller Howard Investments Inc. NY bought a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth approximately $2,909,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at approximately $2,935,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL opened at $38.15 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average price is $43.52 and its two-hundred day moving average price is $57.07. The company has a market cap of $847.01 million, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43. Cracker Barrel Old Country Store, Inc. has a twelve month low of $37.88 and a twelve month high of $90.71.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last posted its earnings results on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.32. Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The business had revenue of $817.14 million for the quarter, compared to analyst estimates of $820.61 million. During the same period in the previous year, the firm earned $1.21 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, analysts predict that Cracker Barrel Old Country Store, Inc. will post 3.82 EPS for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 19th. This represents a $1.00 annualized dividend and a yield of 2.62%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 36.90%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CBRL. StockNews.com cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Citigroup reduced their price objective on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a research note on Friday, May 31st. Benchmark raised Cracker Barrel Old Country Store to a “hold” rating in a research report on Monday, June 3rd. Loop Capital reduced their price target on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, May 20th. Finally, Argus downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.86.

Check Out Our Latest Stock Report on Cracker Barrel Old Country Store