Truist Financial Corp Reduces Position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Truist Financial Corp trimmed its position in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Free Report) by 42.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,420 shares of the restaurant operator's stock after selling 15,975 shares during the quarter. Truist Financial Corp owned about 0.10% of Cracker Barrel Old Country Store worth $903,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $469,000. ICA Group Wealth Management LLC purchased a new position in Cracker Barrel Old Country Store during the fourth quarter worth about $199,000. PNC Financial Services Group Inc. boosted its stake in Cracker Barrel Old Country Store by 18.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,667 shares of the restaurant operator's stock worth $283,000 after buying an additional 582 shares during the period. Nomura Holdings Inc. increased its position in shares of Cracker Barrel Old Country Store by 23.0% during the fourth quarter. Nomura Holdings Inc. now owns 56,783 shares of the restaurant operator's stock valued at $4,377,000 after acquiring an additional 10,618 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at approximately $2,909,000. Hedge funds and other institutional investors own 96.01% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group dropped their target price on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, September 19th. Bank of America lifted their price objective on Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the company an "underperform" rating in a research note on Friday, September 20th. Truist Financial increased their target price on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. StockNews.com raised Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Finally, Argus lowered shares of Cracker Barrel Old Country Store from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of "Hold" and an average price target of $53.57.

Cracker Barrel Old Country Store Stock Up 4.7 %

Shares of Cracker Barrel Old Country Store stock traded up $2.06 on Tuesday, reaching $45.57. 480,761 shares of the company were exchanged, compared to its average volume of 747,074. The stock's 50 day moving average price is $41.33 and its 200-day moving average price is $47.03. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21. Cracker Barrel Old Country Store, Inc. has a 1-year low of $34.88 and a 1-year high of $83.51. The company has a market cap of $1.01 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 1.23 and a beta of 1.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The firm had revenue of $894.39 million during the quarter, compared to analysts' expectations of $898.94 million. During the same period in the prior year, the company posted $1.79 earnings per share. The company's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.94 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Friday, October 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, October 18th. Cracker Barrel Old Country Store's dividend payout ratio is presently 36.90%.

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.