Cracker Barrel Old Country Store (NASDAQ:CBRL) Issues Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Cracker Barrel Old Country Store (NASDAQ:CBRL) released its earnings results on Wednesday. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.35, FiscalAI reports. The company had revenue of $874.82 million for the quarter, compared to analyst estimates of $862.89 million. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%.

Cracker Barrel Old Country Store Stock Down 0.3%

Shares of NASDAQ CBRL traded down $0.09 on Wednesday, hitting $30.62. The company had a trading volume of 1,612,722 shares, compared to its average volume of 1,433,836. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. Cracker Barrel Old Country Store has a 12-month low of $24.85 and a 12-month high of $71.93. The firm has a market capitalization of $683.74 million, a P/E ratio of 40.83 and a beta of 1.24. The business has a 50 day moving average of $30.76 and a two-hundred day moving average of $36.25.

Analyst Upgrades and Downgrades

Several research firms have commented on CBRL. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, December 29th. Gordon Haskett raised Cracker Barrel Old Country Store to a “strong sell” rating in a research report on Wednesday, December 10th. 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. Bank of America lowered their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating for the company in a research note on Friday, December 19th. Finally, Wells Fargo & Company dropped 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 note on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $35.75.

Insider Buying and Selling

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp sold 42,400 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 2,240,200 shares in the company, valued at $57,259,512. This represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 254,400 shares of company stock worth $6,661,464. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors increased its position in shares of Cracker Barrel Old Country Store by 8.4% during the second quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock worth $409,000 after acquiring an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cracker Barrel Old Country Store by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock valued at $510,000 after purchasing an additional 546 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Cracker Barrel Old Country Store during the 2nd quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cracker Barrel Old Country Store in the 3rd quarter valued at approximately $26,000. Finally, Deutsche Bank AG boosted its stake in shares of Cracker Barrel Old Country Store by 3.7% during the 4th quarter. Deutsche Bank AG now owns 17,788 shares of the restaurant operator’s stock valued at $452,000 after buying an additional 630 shares during the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.

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.