Jim Cramer Absolutely Nailed These 11 Stock Predictions

3. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Number of Hedge Fund Investors: 18

Cramer discussed Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in depth after a viewer question triggered a deep dive. He revisited the company’s long-term decline and expressed cautious optimism pending an upcoming strategy update. Here’s what he said back then:

“I myself am amazed that this stock has dropped like a rock and I’ve been amazed because I think they can cover that dividend. I used to recommend the stock and it’s been horrendous. […]

I want to recommend Cracker Barrel. I really do. But I’m not quite there yet. I’m afraid of the dividend cut. […] I’m optimistic about new CEO Julie Masino and her turnaround plan, but I’ve got to hear what they say in two weeks, especially on that dividend front.”

Cramer was right to be hesitant on Cracker Barrel, which dropped 23.87% after his cautious remarks.

It appears that Cramer has regained its interest in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL). Here’s what he said in early April:

“I’m really interested in this. It’s a stock that’s fallen drastically over the past few weeks, but that’s not without reason either, with management blaming not just the weather, but also macroeconomic uncertainty as a reason for some of the challenges in early February. That’s suboptimal. So, what’s there to like about it? Then how about the stellar set of numbers that the company just reported yesterday morning, with much better-than-expected same-store sales growth? Macro uncertainty is already baked into Cracker Barrel’s four-year forecast at this point, which they raised, by the way, while management admitted that February got off to a challenging start. They said the last two weeks have seen meaningful improvement. I like that. Cracker Barrel is still very much a work in progress, something that CEO Julie Masino is quite candid about on the conference call. At this point, the stock’s almost pulled back to where it was trading when I started recommending it last summer. A U-turn? I think Cracker Barrel is a buy.”