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

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

Cracker Barrel Old Country Store Trading Up 4.5 %

Shares of CBRL stock traded up $1.92 during mid-day trading on Wednesday, reaching $44.58. The company's stock had a trading volume of 262,392 shares, compared to its average volume of 833,575. The company's 50 day simple moving average is $41.27 and its 200-day simple moving average is $48.75. The firm has a market capitalization of $992.42 million, a PE ratio of 24.62, a price-to-earnings-growth ratio of 8.36 and a beta of 1.36. Cracker Barrel Old Country Store has a 12-month low of $33.86 and a 12-month high of $65.43. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, April 11th. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 62.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CBRL shares. Citigroup lifted their price target 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. Loop Capital decreased their price objective on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Benchmark reiterated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. StockNews.com upgraded Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd. Finally, Truist Financial upgraded shares of Cracker Barrel Old Country Store from a "hold" rating to a "buy" rating and boosted their target price for the company from $51.00 to $55.00 in a report on Monday, March 10th. 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, Cracker Barrel Old Country Store currently has a consensus rating of "Hold" and an average target price of $57.13.

Insiders Place Their Bets

In other news, major shareholder Gmt Capital Corp acquired 105,900 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $35.94 per share, with a total value of $3,806,046.00. Following the purchase, the insider now directly owns 2,452,200 shares of the company's stock, valued at approximately $88,132,068. This trade represents a 4.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have purchased 332,307 shares of company stock worth $13,316,110. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Cracker Barrel Old Country Store

Several large investors have recently bought and sold shares of CBRL. Whittier Trust Co. of Nevada Inc. acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $25,000. Sterling Capital Management LLC increased its position in shares of Cracker Barrel Old Country Store by 685.9% during the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 487 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Cracker Barrel Old Country Store by 1,601.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator's stock worth $52,000 after acquiring an additional 913 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Cracker Barrel Old Country Store in the fourth quarter valued at about $56,000. Finally, GAMMA Investing LLC grew its stake in Cracker Barrel Old Country Store by 142.8% during the 4th quarter. GAMMA Investing LLC now owns 2,370 shares of the restaurant operator's stock valued at $125,000 after purchasing an additional 1,394 shares in the last quarter. Institutional investors and hedge funds 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.