BB&T Corp Reduces Stake in Cracker Barrel Old Country Store, Inc. (CBRL)

BB&T Corp cut its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,292 shares of the restaurant operator’s stock after selling 778 shares during the quarter. BB&T Corp’s holdings in Cracker Barrel Old Country Store were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at $100,000. Bruderman Asset Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cracker Barrel Old Country Store by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 738 shares of the restaurant operator’s stock valued at $123,000 after buying an additional 61 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at $127,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Cracker Barrel Old Country Store by 4.7% in the first quarter. Public Employees Retirement System of Ohio now owns 1,029 shares of the restaurant operator’s stock valued at $164,000 after buying an additional 46 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ CBRL) opened at 156.85 on Monday. Cracker Barrel Old Country Store, Inc. has a one year low of $131.74 and a one year high of $175.04. The stock has a market capitalization of $3.77 billion, a P/E ratio of 18.74 and a beta of 0.51. The firm’s 50-day moving average price is $151.21 and its 200-day moving average price is $157.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.05. The firm had revenue of $743.20 million during the quarter, compared to the consensus estimate of $746.72 million. Cracker Barrel Old Country Store had a return on equity of 35.49% and a net margin of 6.90%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS. Equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post $8.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Friday, October 13th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $4.80 annualized dividend and a dividend yield of 3.06%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 57.28%.

Cracker Barrel Old Country Store announced that its Board of Directors has authorized a stock repurchase plan on Friday, September 29th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Andrea Weiss sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $153.39, for a total transaction of $306,780.00. Following the completion of the sale, the director now directly owns 11,758 shares in the company, valued at $1,803,559.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sandra B. Cochran sold 36,794 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $151.67, for a total value of $5,580,545.98. Following the sale, the chief executive officer now owns 157,591 shares of the company’s stock, valued at $23,901,826.97. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

WARNING: “BB&T Corp Reduces Stake in Cracker Barrel Old Country Store, Inc. (CBRL)” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.com-unik.info/2017/10/30/bbt-corp-reduces-stake-in-cracker-barrel-old-country-store-inc-cbrl.html.

A number of equities research analysts have recently weighed in on the company. Bank of America Corporation dropped their price objective on Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating for the company in a research note on Monday, September 11th. Zacks Investment Research lowered Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Monday, September 11th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $136.00 target price on shares of Cracker Barrel Old Country Store in a report on Friday, October 20th. Maxim Group reiterated a “hold” rating and issued a $155.00 target price (down from $170.00) on shares of Cracker Barrel Old Country Store in a report on Thursday, September 7th. Finally, BidaskClub lowered Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus price target of $161.00.

Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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Institutional Ownership by Quarter for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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