Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 4.9% – What’s Next?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price was down 4.9% during mid-day trading on Monday . The stock traded as low as $26.42 and last traded at $26.4620. Approximately 524,347 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 1,179,469 shares. The stock had previously closed at $27.83.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CBRL shares. Bank of America cut their price objective on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating on the stock in a research note on Thursday, September 18th. Piper Sandler dropped their price target on shares of 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. Wells Fargo & Company began coverage on shares of Cracker Barrel Old Country Store in a research note on Friday, October 17th. They issued an “equal weight” rating and a $42.00 price target for the company. Citigroup decreased 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 report on Friday, November 21st. Finally, Zacks Research cut Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $42.75.

Cracker Barrel Old Country Store Stock Down 2.7%

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.50 and a quick ratio of 0.21. The stock has a market capitalization of $602.85 million, a P/E ratio of 13.10 and a beta of 1.24. The stock’s fifty day moving average is $34.29 and its two-hundred day moving average is $49.83.

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

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Friday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, October 17th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 48.31%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 84,700 shares of Cracker Barrel Old Country Store stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $28.15, for a total value of $2,384,305.00. Following the transaction, the insider owned 2,749,000 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Trading of Cracker Barrel Old Country Store

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of Cracker Barrel Old Country Store by 17.0% in the first quarter. Invesco Ltd. now owns 199,396 shares of the restaurant operator’s stock worth $7,741,000 after acquiring an additional 28,966 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Cracker Barrel Old Country Store by 27.7% in the 1st quarter. Public Sector Pension Investment Board now owns 70,595 shares of the restaurant operator’s stock worth $2,740,000 after purchasing an additional 15,323 shares during the period. Russell Investments Group Ltd. boosted its stake in Cracker Barrel Old Country Store by 360.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 922 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Cracker Barrel Old Country Store during the 1st quarter worth approximately $48,000. Finally, Fox Run Management L.L.C. acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $1,176,000. 96.01% of the stock is owned by hedge funds and other institutional investors.

About Cracker Barrel Old Country Store

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.