Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Down 7.4% – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded down 7.4% on Monday . The company traded as low as $32.04 and last traded at $31.2480. 93,680 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,435,325 shares. The stock had previously closed at $33.75.

Analyst Ratings Changes

A number of analysts have recently commented on CBRL shares. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Tuesday, January 20th. Piper Sandler cut 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 report on Wednesday, December 10th. UBS Group reduced their price objective on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Bank of America dropped their target price on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a research report on Friday, December 19th. Finally, Citigroup upped their price target on shares of Cracker Barrel Old Country Store from $20.00 to $24.00 and gave the stock a “sell” rating in a research report on Friday. Two research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $35.75.

Cracker Barrel Old Country Store Stock Down 5.0%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 0.51. The business has a 50 day simple moving average of $30.00 and a 200-day simple moving average of $37.63. The firm has a market capitalization of $716.03 million, a price-to-earnings ratio of 42.66 and a beta of 1.28.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data 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. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The firm had revenue of $797.19 million during the quarter, compared to analyst estimates of $806.71 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Cracker Barrel Old Country Store’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Gmt Capital Corp sold 84,700 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 2,749,000 shares in the company, valued at approximately $77,384,350. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 381,500 shares of company stock valued at $10,258,409 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its holdings in Cracker Barrel Old Country Store by 1,068.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock worth $74,655,000 after buying an additional 1,117,617 shares during the last quarter. Franklin Resources Inc. lifted its stake in Cracker Barrel Old Country Store by 13,737.1% during the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after purchasing an additional 923,409 shares during the last quarter. GMT Capital Corp increased its stake in Cracker Barrel Old Country Store by 39.7% in the second quarter. GMT Capital Corp now owns 2,833,700 shares of the restaurant operator’s stock valued at $173,082,000 after purchasing an additional 805,100 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Cracker Barrel Old Country Store during the second quarter worth approximately $43,930,000. Finally, Marshall Wace LLP acquired a new position in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $5,225,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

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.