Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Sees Large Decline in Short Interest

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 2,520,000 shares, a drop of 16.8% from the March 31st total of 3,030,000 shares. Based on an average daily volume of 983,400 shares, the short-interest ratio is presently 2.6 days. Currently, 11.6% of the shares of the stock are sold short.

Insider Activity at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp purchased 31,800 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average price of $37.31 per share, with a total value of $1,186,458.00. Following the completion of the acquisition, the insider now directly owns 2,484,000 shares in the company, valued at approximately $92,678,040. This trade represents a 1.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 296,700 shares of company stock valued at $11,793,199 over the last quarter. Corporate insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its position in Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 487 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Cracker Barrel Old Country Store by 1,601.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator's stock valued at $52,000 after acquiring an additional 913 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at $56,000. GAMMA Investing LLC lifted its position in Cracker Barrel Old Country Store by 142.8% in the 4th quarter. GAMMA Investing LLC now owns 2,370 shares of the restaurant operator's stock valued at $125,000 after acquiring an additional 1,394 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at $207,000. 96.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CBRL. Loop Capital lowered their price target on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating for the company in a report on Friday, March 7th. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. Citigroup lifted their target price on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a "sell" rating in a report on Friday, March 7th. Truist Financial raised shares of Cracker Barrel Old Country Store from a "hold" rating to a "buy" rating and lifted their target price for the stock from $51.00 to $55.00 in a report on Monday, March 10th. Finally, StockNews.com raised shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $57.13.

Cracker Barrel Old Country Store Price Performance

Shares of CBRL stock opened at $42.64 on Friday. Cracker Barrel Old Country Store has a 12-month low of $33.86 and a 12-month high of $65.43. The firm has a market capitalization of $949.29 million, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 8.36 and a beta of 1.39. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average of $41.45 and a 200-day moving average of $48.86.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.35%. Cracker Barrel Old Country Store's dividend payout ratio is currently 62.11%.

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.

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