Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Down 4% – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares fell 4% during mid-day trading on Thursday . The stock traded as low as $54.77 and last traded at $55.44. 300,613 shares were traded during trading, a decline of 63% from the average session volume of 806,170 shares. The stock had previously closed at $57.77.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CBRL. Truist Financial increased their price objective on shares of Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Citigroup reissued a “sell” rating and issued a $42.00 price target (up from $39.00) on shares of Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Wall Street Zen raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $60.00 price target (up from $48.00) on shares of Cracker Barrel Old Country Store in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of “Hold” and a consensus price target of $53.71.

Cracker Barrel Old Country Store Trading Up 3.3%

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 8.36 and a beta of 1.36. The business’s 50-day simple moving average is $47.57 and its two-hundred day simple moving average is $49.87. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.41. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The business had revenue of $821.10 million during the quarter, compared to analysts’ expectations of $824.65 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Friday, July 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, July 18th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 62.11%.

Insider Activity at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp purchased 31,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $37.31 per share, for a total transaction of $1,186,458.00. Following the completion of the purchase, the insider now directly owns 2,484,000 shares of the company’s stock, valued at $92,678,040. The trade was a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders acquired 385,307 shares of company stock worth $15,679,910. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Cracker Barrel Old Country Store in the first quarter worth approximately $25,000. Sterling Capital Management LLC lifted its position in shares of Cracker Barrel Old Country Store by 685.9% during the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock worth $29,000 after buying an additional 487 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Cracker Barrel Old Country Store by 360.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock worth $46,000 after buying an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

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.