Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 3.7% on Insider Selling

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares traded down 3.7% during mid-day trading on Friday following insider selling activity. The company traded as low as $26.41 and last traded at $26.3380. 171,747 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,255,938 shares. The stock had previously closed at $27.35.

Specifically, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $26.13, for a total transaction of $1,107,912.00. Following the sale, the insider directly owned 2,409,800 shares of the company’s stock, valued at $62,968,074. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group dropped their target price on Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Gordon Haskett raised shares of Cracker Barrel Old Country Store to a “strong sell” rating in a research note on Wednesday, December 10th. Wells Fargo & Company cut their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 10th. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Thursday, December 11th. Finally, Piper Sandler dropped their price target on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $36.88.

Cracker Barrel Old Country Store Stock Performance

The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. The business has a 50 day simple moving average of $31.38 and a two-hundred day simple moving average of $48.03. The firm has a market cap of $596.99 million, a PE ratio of 35.65 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $797.19 million during the quarter, compared to analyst estimates 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 revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, equities research 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Friday, January 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 133.33%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in Cracker Barrel Old Country Store during the 1st quarter worth $30,000. Assetmark Inc. increased its holdings in Cracker Barrel Old Country Store by 517.3% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 419 shares during the period. Canada Pension Plan Investment Board bought a new stake in Cracker Barrel Old Country Store during the 2nd quarter valued at $37,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of 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 buying an additional 922 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

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.