State Board of Administration of Florida Retirement System raised its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 15.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,792 shares of the restaurant operator’s stock after purchasing an additional 1,300 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Cracker Barrel Old Country Store were worth $1,485,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at about $100,000. Bruderman Asset Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at about $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 about $127,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the third quarter valued at about $159,000. Institutional investors own 86.18% of the company’s stock.

A number of equities research analysts have recently issued reports on CBRL shares. BidaskClub lowered Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Nomura lowered their target price on Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday, September 14th. Maxim Group restated a “hold” rating and set a $160.00 price objective (up previously from $155.00) on shares of Cracker Barrel Old Country Store in a research note on Wednesday, October 11th. Instinet restated a “neutral” rating and set a $158.00 price objective (down previously from $162.00) on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 14th. Finally, Zacks Investment Research lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $160.20.

In related news, CEO Sandra B. Cochran sold 36,794 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was 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 approximately $23,901,826.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrea Weiss sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $153.39, for a total value of $306,780.00. Following the completion of the sale, the director now directly owns 11,758 shares in the company, valued at approximately $1,803,559.62. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Cracker Barrel Old Country Store, Inc. (CBRL) opened at $158.70 on Friday. The company has a market capitalization of $3,780.00, a P/E ratio of 18.78, a PEG ratio of 2.64 and a beta of 0.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.54. Cracker Barrel Old Country Store, Inc. has a 12-month low of $141.75 and a 12-month high of $175.04.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 EPS for the quarter, topping the consensus estimate of $2.18 by $0.05. The company had revenue of $743.20 million during the quarter, compared to analyst estimates 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 business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. research analysts expect that Cracker Barrel Old Country Store, Inc. will post 8.78 earnings per share for the current year.

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 outstanding shares. This buyback authorization allows the restaurant operator to buy up to 0.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Friday, October 13th were given a $1.20 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $4.80 annualized dividend and a dividend yield of 3.02%. Cracker Barrel Old Country Store’s payout ratio is 57.35%.

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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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