Jensen Investment Management Inc. Grows Stake in Cracker Barrel Old Country Store, Inc. (CBRL)

Jensen Investment Management Inc. lifted its stake in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,420 shares of the restaurant operator’s stock after acquiring an additional 540 shares during the quarter. Jensen Investment Management Inc.’s holdings in Cracker Barrel Old Country Store were worth $670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. APG Asset Management N.V. acquired a new stake in shares of Cracker Barrel Old Country Store in the third quarter worth $25,775,000. JLB & Associates Inc. acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter worth $8,181,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Cracker Barrel Old Country Store by 920.9% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 53,801 shares of the restaurant operator’s stock worth $8,996,000 after buying an additional 48,531 shares during the period. AXA boosted its position in shares of Cracker Barrel Old Country Store by 117.8% in the second quarter. AXA now owns 70,800 shares of the restaurant operator’s stock worth $11,842,000 after buying an additional 38,300 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Cracker Barrel Old Country Store by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 906,343 shares of the restaurant operator’s stock worth $152,421,000 after buying an additional 37,551 shares during the period. 86.17% of the stock is owned by institutional investors and hedge funds.

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

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded up $0.24 during trading hours on Monday, hitting $156.31. The stock had a trading volume of 39,588 shares, compared to its average volume of 277,349. Cracker Barrel Old Country Store, Inc. has a 12 month low of $131.74 and a 12 month high of $175.04. The firm has a market capitalization of $3,760.40, a P/E ratio of 18.62, a P/E/G ratio of 2.62 and a beta of 0.48. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 0.73.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Cracker Barrel Old Country Store had a return on equity of 35.49% and a net margin of 6.90%. The business had revenue of $743.20 million for the quarter, compared to the consensus estimate of $746.72 million. During the same period last year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts predict that Cracker Barrel Old Country Store, Inc. will post 8.78 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Friday, October 13th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, October 12th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 57.28%.

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

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Several analysts have recently commented on the company. Bank of America Corporation decreased their target price on Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating for the company in a research report 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. restated a “hold” rating and set a $136.00 target price on shares of Cracker Barrel Old Country Store in a report on Friday, October 20th. Maxim Group restated a “hold” rating and set 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 investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $161.00.

Cracker Barrel Old Country Store Company 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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