Their funds probably increased 7-8% which means they had to buy more CBRL as well as every other stock in the index. Its "mindless investing" because they only attempt to match the market.
Ackman touched on this in his most recent shareholder letter. Index funds are attracting more & more money because they beat most funds. Its a dual edge sword though.
I don't know how much of Blackrock holdings are in index funds, but I doubt they represent 8.5% of the market. Also, for an index fund, share price change does not affect number of shares owned, but inflows and outflows to fund do.
Blackrocks buys or sells are meaningless. They don't pick stocks, they buy the market.
As the averages go higher, those mimicking the averages add shares.
SunTrust upgraded the restaurant stock to a Buy rating from Neutral on a valuation call.
BlackRock also filed notice with the SEC that it holds 1.985M shares or about 8.5% of the company. Last year at this time Blackrock held a position of around 7.9%.
was upgraded by SunTrust from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, The Fly reports.
CBRL has been the topic of a number of other reports. Miller Tabak raised Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating in a research note on Monday, November 2nd.
I've been following trade alerts from the Penny Stock 101 org newsletter, and I've been consistanly beating the market. If you want to get an early jump on the fastest moving NASDAQ, NYES and OTC stocks signup now.Just on an email stating they have a new pick coming tomorrow!
She must make enough to buy some CBRL stock on the open market ?
Where is the leadership in the face of the steep decline in this stock ?
Over the years CBRL has been the darling of wall street.I think they are an excellent company and I'm sticking around,the dividend is SOLID. (I hope)
The company has been solid for the past 25 years, but they will probably have to spend some extra money as many of the stores will show their age.I will agree that most have been very well maintained as they went along.I don't think the street likes the fact the company let so much money be returned to the stock holders VIA the extra dividend,to many bought and sold quickly and the stock has been declining since.Many figured that would happen but not to this extent.
CBRL should be over $240 per share now, but, it's tracking gasoline DOWN. Just the opposite of what should be happening. Lebanon, Tennessee has myopic and overpaid top management. They are so insulated that they spend massive cash, conspiring with lawyers, to fend off an OWNER. If they are that thin skinned....pony of the CASH....Cochran.....and take this chain private.. Ask Kohl's how it works when it's getting too hot in the kitchen to be a PUBLIC company.
Gasoline is going lower and lower. CBRL is an interstate feed trough. Why has the stock not moved inversely to lower gasoline prices ? Stop building new marginal stores....stop burning cash on advertising.....increase stock buy back NOW. Smart management would be #$%$ these things, instead of building moats against your largest shareholder (BH).
Management doesn't want to attract shareholders, they are only vested in their own overpaid hides.
Don't complain,the company despite the rollback is up 13 fold in the last 24 years..Walmart is less today than it was 14 years ago..go figure...
Cochran is making about 175 X the front line worker bee employee.
Lower gasoline prices should have lit a fire under this like a rocket, over $200 per share.
Money is being misallocated....starting with excessive salaries to top management.