Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 2.9% - Here's What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) shares traded down 2.9% during mid-day trading on Wednesday . The company traded as low as $58.79 and last traded at $58.59. 57,162 shares were traded during trading, a decline of 93% from the average session volume of 841,096 shares. The stock had previously closed at $60.35.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CBRL. Truist Financial raised their price objective on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Loop Capital boosted their price objective on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a report on Friday, June 6th. UBS Group reiterated a "neutral" rating and set a $60.00 price target (up from $48.00) on shares of Cracker Barrel Old Country Store in a research report on Tuesday, June 3rd. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Finally, Wall Street Zen raised shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research note on Sunday, March 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.86.

Cracker Barrel Old Country Store Price Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 0.65 and a quick ratio of 0.26. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 22.78 and a beta of 1.45. The stock has a 50 day moving average price of $50.27 and a two-hundred day moving average price of $50.13.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.41. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%. The firm had revenue of $821.10 million during the quarter, compared to the consensus estimate of $824.65 million. During the same period in the prior year, the company posted $0.88 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is 38.76%.

Insider Transactions at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp purchased 53,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $44.60 per share, with a total value of $2,363,800.00. Following the purchase, the insider now directly owns 2,833,700 shares of the company's stock, valued at $126,383,020. This represents a 1.91% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased a total of 385,307 shares of company stock valued at $15,679,910 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Cracker Barrel Old Country Store by 9.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator's stock valued at $62,452,000 after purchasing an additional 106,440 shares during the last quarter. Good Life Advisors LLC purchased a new position in shares of Cracker Barrel Old Country Store during the 4th quarter valued at approximately $404,000. Vanguard Group Inc. grew its position in shares of Cracker Barrel Old Country Store by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,613,358 shares of the restaurant operator's stock worth $138,142,000 after buying an additional 13,305 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter worth $704,000. Finally, Amundi raised its stake in shares of Cracker Barrel Old Country Store by 202.4% in the 4th quarter. Amundi now owns 10,729 shares of the restaurant operator's stock valued at $615,000 after purchasing an additional 7,181 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Company Profile

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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