Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 3.9% – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price was down 3.9% during trading on Thursday . The company traded as low as $31.22 and last traded at $31.2150. Approximately 536,809 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,836,438 shares. The stock had previously closed at $32.48.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CBRL shares. Bank of America lowered their target price on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating for the company in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, December 29th. Truist Financial reduced their target price on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Gordon Haskett raised Cracker Barrel Old Country Store to a “strong sell” rating in a report on Wednesday, December 10th. Finally, Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $35.25.

Cracker Barrel Old Country Store Price Performance

The stock has a fifty day moving average of $28.42 and a 200 day moving average of $42.52. The stock has a market cap of $674.53 million, a price-to-earnings ratio of 40.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.16.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. The business had revenue of $797.19 million during the quarter, compared to analysts’ expectations of $806.71 million. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. On average, analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, January 16th. Cracker Barrel Old Country Store’s payout ratio is 133.33%.

Insider Activity at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of Cracker Barrel Old Country Store stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the completion of the transaction, the insider directly owned 2,240,200 shares in the company, valued at approximately $57,259,512. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 381,500 shares of company stock valued at $10,258,409 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently made changes to their positions in CBRL. Allianz Asset Management GmbH increased its position in Cracker Barrel Old Country Store by 113.5% during the second quarter. Allianz Asset Management GmbH now owns 273,745 shares of the restaurant operator’s stock worth $16,720,000 after purchasing an additional 145,511 shares during the last quarter. Entropy Technologies LP acquired a new position in Cracker Barrel Old Country Store in the 2nd quarter valued at about $678,000. Envestnet Asset Management Inc. grew its stake in shares of Cracker Barrel Old Country Store by 31.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,829 shares of the restaurant operator’s stock valued at $4,326,000 after buying an additional 17,147 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 2nd quarter worth approximately $249,000. Finally, Geode Capital Management LLC raised its position in shares of Cracker Barrel Old Country Store by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 546,006 shares of the restaurant operator’s stock valued at $33,354,000 after buying an additional 11,409 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.