JPMorgan Chase & Co. Cuts Holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

JPMorgan Chase & Co. decreased its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 98.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,799 shares of the restaurant operator’s stock after selling 2,771,079 shares during the period. JPMorgan Chase & Co. owned about 0.14% of Cracker Barrel Old Country Store worth $1,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBRL. Point72 Asset Management L.P. acquired a new stake in shares of Cracker Barrel Old Country Store in the third quarter valued at about $2,526,000. Charles Schwab Investment Management Inc. grew its position in shares of Cracker Barrel Old Country Store by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock valued at $48,752,000 after purchasing an additional 111,892 shares during the period. PDT Partners LLC grew its position in shares of Cracker Barrel Old Country Store by 199.3% in the third quarter. PDT Partners LLC now owns 29,925 shares of the restaurant operator’s stock valued at $1,357,000 after purchasing an additional 19,925 shares during the period. BNP Paribas Financial Markets boosted its position in Cracker Barrel Old Country Store by 74.1% during the third quarter. BNP Paribas Financial Markets now owns 30,636 shares of the restaurant operator’s stock worth $1,389,000 after acquiring an additional 13,040 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Cracker Barrel Old Country Store during the third quarter worth about $1,016,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CBRL. Bank of America boosted their price target on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, December 5th. Truist Financial boosted their price target on shares of Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Piper Sandler boosted their target price on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. UBS Group boosted their price target on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, Loop Capital boosted their price target on shares of Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.63.

Cracker Barrel Old Country Store Price Performance

Shares of CBRL opened at $59.70 on Friday. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $34.88 and a fifty-two week high of $82.98. The firm’s 50 day moving average price is $53.84 and its 200 day moving average price is $46.93. The company has a market cap of $1.33 billion, a P/E ratio of 32.98, a PEG ratio of 2.58 and a beta of 1.45. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, January 17th. Cracker Barrel Old Country Store’s payout ratio is currently 55.25%.

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 restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.