Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 3.7% on Insider Selling

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) dropped 3.7% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $26.41 and last traded at $26.3380. Approximately 171,747 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,255,938 shares. The stock had previously closed at $27.35.

Specifically, major shareholder Gmt Capital Corp sold 42,400 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.13, for a total value of $1,107,912.00. Following the transaction, the insider owned 2,409,800 shares of the company’s stock, valued at $62,968,074. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Argus dropped their price target on shares of Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Citigroup decreased their price objective on shares of Cracker Barrel Old Country Store from $24.00 to $20.00 and set a “sell” rating on the stock in a research report on Wednesday, December 10th. UBS Group lowered their target price on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Finally, Piper Sandler cut their price target 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, December 10th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of “Reduce” and an average target price of $36.88.

Cracker Barrel Old Country Store Trading Down 2.2%

The stock has a market cap of $596.99 million, a P/E ratio of 35.65 and a beta of 1.24. The stock’s 50-day moving average is $31.38 and its two-hundred day moving average is $48.03. 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 announced its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, topping 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 business 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 company earned $0.45 EPS. The business’s quarterly revenue 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 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Friday, January 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s payout ratio is currently 133.33%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in Cracker Barrel Old Country Store in the first quarter worth $30,000. Assetmark Inc. raised 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 valued at $31,000 after purchasing an additional 419 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Cracker Barrel Old Country Store during the second quarter valued at $37,000. Finally, Russell Investments Group Ltd. lifted its position in Cracker Barrel Old Country Store by 360.2% during the first quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

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.