Raymond James Financial Inc. Invests $4.60 Million in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Raymond James Financial Inc. purchased a new position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 86,965 shares of the restaurant operator's stock, valued at approximately $4,597,000. Raymond James Financial Inc. owned about 0.39% of Cracker Barrel Old Country Store at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CBRL. MML Investors Services LLC purchased a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth $213,000. Franklin Resources Inc. lifted its stake in Cracker Barrel Old Country Store by 30.3% in the 3rd quarter. Franklin Resources Inc. now owns 6,446 shares of the restaurant operator's stock worth $280,000 after purchasing an additional 1,498 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cracker Barrel Old Country Store by 142.8% in the fourth quarter. GAMMA Investing LLC now owns 2,370 shares of the restaurant operator's stock valued at $125,000 after purchasing an additional 1,394 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cracker Barrel Old Country Store by 63.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,999 shares of the restaurant operator's stock valued at $951,000 after purchasing an additional 6,993 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new position in Cracker Barrel Old Country Store during the fourth quarter worth approximately $11,711,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Gmt Capital Corp acquired 53,000 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $43.03 per share, with a total value of $2,280,590.00. Following the transaction, the insider now owns 2,621,800 shares in the company, valued at approximately $112,816,054. This trade represents a 2.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought 243,700 shares of company stock worth $9,575,679 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBRL. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Loop Capital reduced their target price on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Citigroup increased 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. StockNews.com upgraded Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd. Finally, Truist Financial raised shares of Cracker Barrel Old Country Store from a "hold" rating to a "buy" rating and increased their target price for the stock from $51.00 to $55.00 in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $57.13.

Cracker Barrel Old Country Store Stock Down 2.9 %

Shares of NASDAQ:CBRL traded down $1.24 during trading on Tuesday, hitting $41.96. The company's stock had a trading volume of 1,085,239 shares, compared to its average volume of 831,837. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.24 and a current ratio of 0.69. The company has a market capitalization of $934.16 million, a PE ratio of 23.18, a P/E/G ratio of 8.36 and a beta of 1.39. The business has a 50 day moving average price of $41.74 and a two-hundred day moving average price of $48.96. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $65.43.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.38%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is 62.11%.

Cracker Barrel Old Country Store Profile

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.