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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares were down 3.9% 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 analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a report on Monday, December 29th. Wells Fargo & Company lowered their target price on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 10th. Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Argus decreased their price target on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Finally, Citigroup dropped their price objective on Cracker Barrel Old Country Store from $24.00 to $20.00 and set a “sell” 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 assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $35.25.

Cracker Barrel Old Country Store Price Performance

The company has a market cap of $690.44 million, a PE ratio of 41.23 and a beta of 1.27. The business has a 50 day moving average of $28.38 and a 200 day moving average of $42.84. 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 issued its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business 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 company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. As a group, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Friday, January 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, January 16th. Cracker Barrel Old Country Store’s payout ratio is presently 133.33%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other 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 owned 2,749,000 shares of the company’s stock, valued at approximately $77,384,350. This represents a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 381,500 shares of company stock worth $10,258,409. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBRL. SummerHaven Investment Management LLC lifted its position in Cracker Barrel Old Country Store by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator’s stock valued at $1,214,000 after buying an additional 311 shares during the period. Parvin Asset Management LLC grew its position in shares of Cracker Barrel Old Country Store by 4.4% in the 2nd quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock worth $507,000 after buying an additional 350 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cracker Barrel Old Country Store by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock worth $349,000 after acquiring an additional 389 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in Cracker Barrel Old Country Store by 16.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $71,000 after acquiring an additional 400 shares during the period. Finally, Assetmark Inc. boosted its stake in Cracker Barrel Old Country Store by 517.3% during the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 419 shares in the last quarter. 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 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.