Bank of New York Mellon Corp Decreases Position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Bank of New York Mellon Corp lessened its holdings in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 38.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,107 shares of the restaurant operator’s stock after selling 111,641 shares during the period. Bank of New York Mellon Corp owned approximately 0.80% of Cracker Barrel Old Country Store worth $9,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CBRL. Charles Schwab Investment Management Inc. increased its position in shares of Cracker Barrel Old Country Store by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock valued at $48,752,000 after acquiring an additional 111,892 shares during the period. Cibc World Market Inc. acquired a new position in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $11,711,000. Verition Fund Management LLC increased its position in shares of Cracker Barrel Old Country Store by 96.0% in the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock valued at $7,299,000 after acquiring an additional 78,816 shares during the period. Principal Financial Group Inc. increased its position in shares of Cracker Barrel Old Country Store by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 107,820 shares of the restaurant operator’s stock valued at $5,699,000 after acquiring an additional 2,988 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Cracker Barrel Old Country Store by 0.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator’s stock valued at $4,536,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CBRL shares. Truist Financial raised Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and upped their target price for the company from $51.00 to $55.00 in a research report on Monday, March 10th. Bank of America increased their price target on 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. Piper Sandler increased their price target on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. UBS Group increased their price target on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, Loop Capital cut their price target on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.13.

Cracker Barrel Old Country Store Stock Performance

NASDAQ:CBRL opened at $40.26 on Friday. The firm has a market capitalization of $896.31 million, a PE ratio of 22.24, a price-to-earnings-growth ratio of 8.36 and a beta of 1.57. The business’s fifty day moving average price is $52.86 and its 200 day moving average price is $49.13. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. Cracker Barrel Old Country Store, Inc. has a 12 month low of $34.88 and a 12 month high of $74.21.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.48%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 62.11%.

Cracker Barrel Old Country Store Profile

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.