Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Major Shareholder Sells $16,830,513.29 in Stock

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) major shareholder Sardar Biglari sold 98,939 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $170.11, for a total value of $16,830,513.29. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Sardar Biglari also recently made the following trade(s):

  • On Monday, June 17th, Sardar Biglari sold 72,339 shares of Cracker Barrel Old Country Store stock. The stock was sold at an average price of $170.03, for a total value of $12,299,800.17.
  • On Wednesday, May 22nd, Sardar Biglari sold 2,520 shares of Cracker Barrel Old Country Store stock. The stock was sold at an average price of $169.90, for a total value of $428,148.00.
  • On Friday, May 10th, Sardar Biglari sold 12,130 shares of Cracker Barrel Old Country Store stock. The stock was sold at an average price of $170.02, for a total value of $2,062,342.60.

NASDAQ:CBRL opened at $167.89 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $4.04 billion, a P/E ratio of 18.93, a PEG ratio of 1.88 and a beta of 0.54. Cracker Barrel Old Country Store, Inc. has a 52-week low of $141.63 and a 52-week high of $185.00.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.02. The firm had revenue of $739.60 million during the quarter, compared to the consensus estimate of $735.15 million. Cracker Barrel Old Country Store had a return on equity of 34.36% and a net margin of 7.10%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $2.03 earnings per share. On average, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 9 earnings per share for the current year.

The business also recently declared a special dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $3.00 dividend. The ex-dividend date is Thursday, July 18th. This represents a yield of 3%. Cracker Barrel Old Country Store’s dividend payout ratio is 56.37%.

Cracker Barrel Old Country Store declared that its board has authorized a share buyback plan on Tuesday, June 4th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the restaurant operator to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

CBRL has been the subject of a number of research reports. BidaskClub downgraded Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Maxim Group upgraded Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $190.00 in a report on Thursday, April 11th. Argus reiterated a “buy” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, February 27th. Wells Fargo & Co decreased their price objective on Cracker Barrel Old Country Store from $157.00 to $150.00 and set a “market perform” rating for the company in a report on Wednesday, February 27th. Finally, Zacks Investment Research upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $171.25.

A number of hedge funds have recently bought and sold shares of CBRL. Robeco Institutional Asset Management B.V. grew its stake in Cracker Barrel Old Country Store by 2,122.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 452,822 shares of the restaurant operator’s stock valued at $73,182,000 after purchasing an additional 432,447 shares in the last quarter. Two Sigma Advisers LP grew its stake in Cracker Barrel Old Country Store by 335.4% in the fourth quarter. Two Sigma Advisers LP now owns 430,942 shares of the restaurant operator’s stock valued at $68,890,000 after purchasing an additional 331,959 shares in the last quarter. Norges Bank bought a new position in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $30,458,000. Macquarie Group Ltd. bought a new position in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $24,365,000. Finally, Marshall Wace LLP grew its stake in Cracker Barrel Old Country Store by 69.1% in the first quarter. Marshall Wace LLP now owns 353,035 shares of the restaurant operator’s stock valued at $57,054,000 after purchasing an additional 144,284 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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