Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 4.9% – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares traded down 4.9% on Monday . The company traded as low as $26.42 and last traded at $26.4620. 524,347 shares were traded during trading, a decline of 56% from the average session volume of 1,179,469 shares. The stock had previously closed at $27.83.

Analysts Set New Price Targets

CBRL has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group reduced 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. Wells Fargo & Company decreased their price target on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday. Zacks Research raised Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler reduced their price objective on 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. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $36.88.

Cracker Barrel Old Country Store Trading Up 3.5%

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 firm has a fifty day simple moving average of $33.28 and a two-hundred day simple moving average of $49.27. The firm has a market capitalization of $622.45 million, a P/E ratio of 37.27 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 EPS for the quarter. The firm had revenue of $845.09 million for the quarter. Cracker Barrel Old Country Store had a return on equity of 9.55% and a net margin of 0.49%. On average, equities research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Cracker Barrel Old Country Store’s payout ratio is 48.31%.

Insider Activity at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $26.89, for a total value of $1,140,136.00. Following the completion of the transaction, the insider directly owned 2,579,400 shares of the company’s stock, valued at approximately $69,360,066. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 169,500 shares of company stock worth $4,737,081. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew 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 valued at $7,741,000 after purchasing an additional 28,966 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Cracker Barrel Old Country Store by 27.7% in the first quarter. Public Sector Pension Investment Board now owns 70,595 shares of the restaurant operator’s stock worth $2,740,000 after buying an additional 15,323 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Cracker Barrel Old Country Store by 360.2% in the first 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Cracker Barrel Old Country Store in the first quarter valued at approximately $48,000. Finally, Fox Run Management L.L.C. purchased a new position in Cracker Barrel Old Country Store during the first quarter valued at approximately $1,176,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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.