Towle & Co. Invests $13.58 Million in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Towle & Co. purchased a new position in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 256,809 shares of the restaurant operator’s stock, valued at approximately $13,575,000. Cracker Barrel Old Country Store accounts for 2.3% of Towle & Co.’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds have also bought and sold shares of CBRL. Nisa Investment Advisors LLC raised its stake in Cracker Barrel Old Country Store by 63.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 17,999 shares of the restaurant operator’s stock worth $951,000 after buying an additional 6,993 shares during the last quarter. Cibc World Market Inc. bought a new position in Cracker Barrel Old Country Store during the fourth quarter worth $11,711,000. Total Clarity Wealth Management Inc. bought a new position in Cracker Barrel Old Country Store during the fourth quarter worth $256,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Cracker Barrel Old Country Store by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,069 shares of the restaurant operator’s stock worth $906,000 after buying an additional 2,531 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Cracker Barrel Old Country Store during the fourth quarter worth $213,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Down 0.1%

CBRL opened at $57.18 on Monday. Cracker Barrel Old Country Store, Inc. has a 1-year low of $33.86 and a 1-year high of $65.43. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The company has a market cap of $1.27 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 8.36 and a beta of 1.36. The company has a fifty day moving average price of $42.77 and a two-hundred day moving average price of $48.93.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, April 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, April 11th. Cracker Barrel Old Country Store’s payout ratio is presently 62.11%.

Wall Street Analysts Forecast Growth

CBRL has been the subject of a number of analyst reports. Loop Capital lowered their target price on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Truist Financial raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $55.00 in a research note on Monday, March 10th. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the company a “sell” rating in a research note on Friday, March 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and an average price target of $52.43.

Insider Transactions at Cracker Barrel Old Country Store

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp bought 53,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $44.60 per share, with a total value of $2,363,800.00. Following the completion of the transaction, the insider now directly owns 2,833,700 shares in the company, valued at approximately $126,383,020. The trade was a 1.91% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired a total of 385,307 shares of company stock valued at $15,679,910 over the last three months. Corporate insiders own 1.40% 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 restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.