Cramer’s Restaurant Buyback Play (CBRL)

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On tonight’s MAD MONEY on CNBC, Jim Cramer noted about yesterday’s call for a pullback.  His bounceback candidates were the FOUR HORSEMEN OF TECH and he still thinks that, but he has another he wants to look at:

  • CBRL Group, Inc. (CBRL), the parent of Cracker Barrel.

Cramer isn’t looking at the tapped out consumer as the reason.  He thinks their own share buybacks of half of its stock was exhausted, but they just added another 1 million shares to the plan last week.  Cramer thinks this stock deserves much more credit.  He thinks a raised dividend shows it is in great shape and has consistent strong business.

We noted on this in the past about its Logan’s Roadhouse spin-off.  Cramer called this a buyback stock to watch before. Other top Cramer picks of relevance:

Jon C. Ogg
September 25, 2007

Jon Ogg produces the 24/7 Wall St., LLC Special Situation Investing Newsletter; he does not own securities in the companies he covers.