Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 6.1% – Should You Sell?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was down 6.1% on Friday . The stock traded as low as $34.51 and last traded at $34.4650. Approximately 1,153,499 shares traded hands during trading, a decline of 37% from the average daily volume of 1,841,357 shares. The stock had previously closed at $36.70.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Thursday, December 11th. Wall Street Zen downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 20th. Wells Fargo & Company lowered their price objective on shares of 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, December 10th. Finally, Bank of America reduced 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. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $35.25.

Cracker Barrel Old Country Store Price Performance

The firm has a market capitalization of $761.65 million, a price-to-earnings ratio of 45.45 and a beta of 1.27. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. The company’s fifty day moving average is $28.10 and its two-hundred day moving average is $43.90.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $806.71 million. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders 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 dividend yield of 2.9%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s payout ratio is presently 133.33%.

Insider Activity at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $25.56, for a total value of $1,083,744.00. Following the sale, the insider directly owned 2,240,200 shares in the company, valued at $57,259,512. This trade represents a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 381,500 shares of company stock valued at $10,258,409. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cracker Barrel Old Country Store by 4.3% in 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 buying an additional 546 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Cracker Barrel Old Country Store in the second quarter worth about $249,000. State of Alaska Department of Revenue raised its position in shares of Cracker Barrel Old Country Store by 7.5% during the second quarter. State of Alaska Department of Revenue now owns 13,258 shares of the restaurant operator’s stock worth $809,000 after purchasing an additional 924 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator’s stock valued at $1,214,000 after purchasing an additional 311 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Cracker Barrel Old Country Store by 7.5% in the 2nd quarter. New York State Teachers Retirement System now owns 32,283 shares of the restaurant operator’s stock valued at $1,972,000 after purchasing an additional 2,243 shares during the period. 96.01% of the stock is owned by institutional investors.

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.