Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 3.9% – What’s Next?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was down 3.9% during trading 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 Ratings Changes

A number of research firms have issued reports on CBRL. Bank of America cut their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a report on Friday, December 19th. UBS Group cut their price target on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Piper Sandler reduced their price objective 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 report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, December 29th. Finally, Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Cracker Barrel Old Country Store currently has an average rating of “Reduce” and an average price target of $35.25.

Cracker Barrel Old Country Store Trading Down 4.8%

The stock’s 50 day simple moving average is $28.38 and its two-hundred day simple moving average is $42.84. The stock has a market capitalization of $690.44 million, a PE ratio of 41.23 and a beta of 1.27. 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 posted its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, topping 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 company had revenue of $797.19 million for the quarter, compared to analysts’ expectations of $806.71 million. During the same quarter in the previous year, the firm posted $0.45 EPS. Cracker Barrel Old Country Store’s revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 133.33%.

Insiders Place Their Bets

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $25.56, for a total value of $1,083,744.00. Following the sale, the insider owned 2,240,200 shares in the company, valued at approximately $57,259,512. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 381,500 shares of company stock valued at $10,258,409. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently added to or reduced their stakes in the business. Daytona Street Capital LLC bought a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $203,000. Newbridge Financial Services Group Inc. raised its stake in Cracker Barrel Old Country Store by 16.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 400 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Cracker Barrel Old Country Store by 17.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 13,040 shares of the restaurant operator’s stock valued at $331,000 after purchasing an additional 1,948 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Cracker Barrel Old Country Store by 81.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 69,514 shares of the restaurant operator’s stock worth $1,766,000 after buying an additional 31,104 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Cracker Barrel Old Country Store by 6.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 168,834 shares of the restaurant operator’s stock worth $7,439,000 after buying an additional 10,590 shares in the last quarter. 96.01% of the stock is currently owned by 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.