Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 7.4% – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares traded down 7.4% during trading on Monday . The stock traded as low as $32.04 and last traded at $31.2480. 93,680 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,435,325 shares. The stock had previously closed at $33.75.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Tuesday, January 20th. Wells Fargo & Company cut their target price 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 report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, December 29th. Truist Financial dropped their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $35.75.

Cracker Barrel Old Country Store Stock Down 5.0%

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.16. The business has a fifty day moving average price of $30.00 and a two-hundred day moving average price of $37.63. The firm has a market capitalization of $716.03 million, a price-to-earnings ratio of 42.66 and a beta of 1.28.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $797.19 million for 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 business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Insider Activity

In other news, major shareholder Gmt Capital Corp sold 84,700 shares of the company’s stock in a transaction dated 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 sale, the insider owned 2,749,000 shares in the company, valued at $77,384,350. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 381,500 shares of company stock valued at $10,258,409. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parvin Asset Management LLC increased its holdings in shares of Cracker Barrel Old Country Store by 4.4% during the 2nd quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock valued at $507,000 after purchasing an additional 350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Cracker Barrel Old Country Store by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock valued at $349,000 after buying an additional 389 shares during the period. Newbridge Financial Services Group Inc. increased its holdings 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 buying an additional 400 shares in the last quarter. Assetmark Inc. raised its position in shares of Cracker Barrel Old Country Store by 517.3% in the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 419 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Cracker Barrel Old Country Store by 7.2% during the 3rd quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock valued at $276,000 after acquiring an additional 419 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.

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.