Olstein Capital Management L.P. Reduces Stock Holdings in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Olstein Capital Management L.P. trimmed its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,000 shares of the restaurant operator’s stock after selling 5,346 shares during the period. Olstein Capital Management L.P.’s holdings in Cracker Barrel Old Country Store were worth $6,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CBRL. GAMMA Investing LLC purchased a new position in Cracker Barrel Old Country Store in the fourth quarter worth about $32,000. Future Financial Wealth Managment LLC bought a new position in shares of Cracker Barrel Old Country Store in the first quarter worth about $73,000. Security National Bank bought a new position in shares of Cracker Barrel Old Country Store in the fourth quarter worth about $81,000. Quadrant Capital Group LLC raised its stake in shares of Cracker Barrel Old Country Store by 106.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,531 shares of the restaurant operator’s stock worth $118,000 after buying an additional 788 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in shares of Cracker Barrel Old Country Store in the fourth quarter worth about $199,000. 96.01% of the stock is owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Price Performance

CBRL traded down $1.22 on Wednesday, hitting $39.44. 399,134 shares of the company’s stock traded hands, compared to its average volume of 773,770. The company has a current ratio of 0.63, a quick ratio of 0.23 and a debt-to-equity ratio of 1.11. Cracker Barrel Old Country Store, Inc. has a one year low of $39.40 and a one year high of $98.60. The company’s 50 day simple moving average is $49.65 and its 200-day simple moving average is $63.84. The firm has a market cap of $875.57 million, a price-to-earnings ratio of 14.55, a P/E/G ratio of 0.90 and a beta of 1.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share (EPS) 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 the consensus estimate of $820.61 million. During the same quarter in the previous year, the company posted $1.21 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 3.88 EPS for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, July 19th. Cracker Barrel Old Country Store’s payout ratio is 191.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CBRL shares. Loop Capital decreased their price objective on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Citigroup decreased their price objective on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, May 31st. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. CL King downgraded Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research note on Friday, May 17th. Finally, Truist Financial decreased their target price on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and a consensus target price of $62.14.

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.