Insider Selling: Cracker Barrel Old Country Store (NASDAQ:CBRL) Major Shareholder Sells 84,700 Shares of Stock

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) major shareholder Gmt Capital Corp sold 84,700 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $28.15, for a total transaction of $2,384,305.00. Following the transaction, the insider directly owned 2,749,000 shares in the company, valued at $77,384,350. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Gmt Capital Corp also recently made the following trade(s):

• On Wednesday, December 3rd, Gmt Capital Corp sold 42,400 shares of Cracker Barrel Old Country Store stock. The shares were sold at an average price of $28.60, for a total transaction of $1,212,640.00.

Cracker Barrel Old Country Store Stock Performance

NASDAQ CBRL traded down $0.48 during midday trading on Thursday, hitting $28.38. The company had a trading volume of 1,123,049 shares, compared to its average volume of 1,181,266. The company has a quick ratio of 0.21, a current ratio of 0.50 and a debt-to-equity ratio of 0.73. The stock has a market cap of $631.99 million, a price-to-earnings ratio of 13.71 and a beta of 1.24. The firm has a fifty day simple moving average of $34.96 and a two-hundred day simple moving average of $50.26. Cracker Barrel Old Country Store, Inc. has a fifty-two week low of $25.62 and a fifty-two week high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Wednesday, December 4th. The restaurant operator reported $0.45 EPS for the quarter. Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. The business had revenue of $845.09 million during the quarter. Equities analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Friday, October 17th were given a $0.25 dividend. The ex-dividend date was Friday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 48.31%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Cracker Barrel Old Country Store during the 3rd quarter valued at about $26,000. Brooklyn Investment Group bought a new position in shares of Cracker Barrel Old Country Store in the first quarter valued at approximately $30,000. Assetmark Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 517.3% in the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 419 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Cracker Barrel Old Country Store during the 2nd quarter worth approximately $37,000. Finally, Russell Investments Group Ltd. grew its position in 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 acquiring an additional 922 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CBRL shares. Piper Sandler lowered their price objective on Cracker Barrel Old Country Store from $56.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Zacks Research downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research note on Friday, September 19th. Citigroup dropped their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $24.00 and set a “sell” rating for the company in a research note on Friday, November 21st. Bank of America reduced their price objective on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating for the company in a report on Thursday, September 18th. Finally, Truist Financial lowered their target price on shares of Cracker Barrel Old Country Store from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $42.75.

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.