Occidental Asset Management LLC Grows Position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

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Occidental Asset Management LLC raised its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 43.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,852 shares of the restaurant operator’s stock after purchasing an additional 1,160 shares during the quarter. Occidental Asset Management LLC’s holdings in Cracker Barrel Old Country Store were worth $658,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CBRL. Robeco Institutional Asset Management B.V. raised its holdings in shares of Cracker Barrel Old Country Store by 2,122.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 452,822 shares of the restaurant operator’s stock worth $73,182,000 after purchasing an additional 432,447 shares during the period. Norges Bank acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $30,458,000. Marshall Wace LLP grew its stake in shares of Cracker Barrel Old Country Store by 69.1% in the first quarter. Marshall Wace LLP now owns 353,035 shares of the restaurant operator’s stock valued at $57,054,000 after buying an additional 144,284 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at about $18,878,000. Finally, Gradient Investments LLC grew its stake in shares of Cracker Barrel Old Country Store by 390,071.4% in the second quarter. Gradient Investments LLC now owns 54,624 shares of the restaurant operator’s stock valued at $9,326,000 after buying an additional 54,610 shares in the last quarter. Institutional investors own 82.21% of the company’s stock.

A number of research firms have recently issued reports on CBRL. Zacks Investment Research upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Maxim Group reiterated a “buy” rating and issued a $195.00 target price (up previously from $185.00) on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 24th. SunTrust Banks lowered their target price on Cracker Barrel Old Country Store to $161.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Wells Fargo & Co increased their target price on Cracker Barrel Old Country Store from $147.00 to $153.00 and gave the company a “market perform” rating in a research note on Wednesday, June 5th. Finally, ValuEngine lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $171.96.

NASDAQ CBRL traded down $1.58 during mid-day trading on Thursday, reaching $164.86. 15,636 shares of the company’s stock traded hands, compared to its average volume of 367,701. Cracker Barrel Old Country Store, Inc. has a 1-year low of $141.63 and a 1-year high of $185.00. The firm’s fifty day simple moving average is $172.35. The company has a current ratio of 0.99, a quick ratio of 0.57 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $4.00 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Cracker Barrel Old Country Store had a return on equity of 34.36% and a net margin of 7.10%. The firm had revenue of $739.60 million during the quarter, compared to analyst estimates of $735.15 million. During the same quarter last year, the firm earned $2.03 EPS. Cracker Barrel Old Country Store’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 9 earnings per share for the current year.

The firm also recently disclosed a special dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, July 18th. This represents a yield of 3%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 58.62%.

Cracker Barrel Old Country Store declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 4th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 2,520 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $169.90, for a total transaction of $428,148.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,173,399 shares of company stock valued at $201,096,228. 0.88% of the stock is owned by insiders.

About Cracker Barrel Old Country Store

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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