CBRL Group Inc.’s (CBRL) largest shareholder, the Boston-based Fidelity mutual fund family, has sold most of the Lebanon restaurant chain’s shares it acquired a year ago at considerably lower prices.
According to a filing Thursday with the SEC, FMR Corp. now holds 435,200 shares, or 0.8% of CBRL shares outstanding. In October, FMR reported owning 3.4 million, which at 6.0% of shares outstanding made it CBRL’s largest stockholder.
FMR began buying CBRL shares in the first quarter of 2001, when the shares of Cracker Barrel’s corporate parent were trading between $16 and $21. CBRL shares were up 10 cents Thursday morning to $30.06.