William Blair Investment Management LLC Sells 236,076 Shares of Cracker Barrel Old Country Store, Inc. $CBRL

William Blair Investment Management LLC decreased its position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 46.8% in the third quarter, HoldingsChannel reports. The firm owned 268,281 shares of the restaurant operator’s stock after selling 236,076 shares during the quarter. William Blair Investment Management LLC’s holdings in Cracker Barrel Old Country Store were worth $11,820,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP boosted its stake in Cracker Barrel Old Country Store by 68,042.9% during the third quarter. Quantbot Technologies LP now owns 14,310 shares of the restaurant operator’s stock valued at $630,000 after buying an additional 14,289 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter worth approximately $686,000. Total Clarity Wealth Management Inc. bought a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at approximately $214,000. Jupiter Asset Management Ltd. purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter valued at $2,505,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Cracker Barrel Old Country Store by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 168,834 shares of the restaurant operator’s stock valued at $7,439,000 after purchasing an additional 10,590 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Cracker Barrel Old Country Store from $20.00 to $24.00 and gave the company a “sell” rating in a research note on Friday, February 20th. Bank of America decreased their target price on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a research report on Friday, December 19th. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Tuesday, January 20th. Piper Sandler dropped their price target on Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Finally, Wells Fargo & Company decreased their price objective on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $35.75.

Insider Activity

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the completion of the transaction, the insider owned 2,240,200 shares in the company, valued at $57,259,512. The trade was a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 296,800 shares of company stock worth $7,874,104. 1.40% of the stock is currently owned by company insiders.

Cracker Barrel Old Country Store Price Performance

CBRL stock opened at $32.29 on Tuesday. The stock has a market cap of $721.04 million, a PE ratio of 43.05 and a beta of 1.24. Cracker Barrel Old Country Store, Inc. has a 12 month low of $24.85 and a 12 month high of $71.93. The company has a 50-day moving average price of $30.66 and a 200 day moving average price of $36.47. The company has a current ratio of 0.51, a quick ratio of 0.16 and a debt-to-equity ratio of 0.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The business had revenue of $797.19 million during the quarter, compared to the consensus estimate of $806.71 million. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.