Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Down - Here's Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $60.74, but opened at $57.68. Cracker Barrel Old Country Store shares last traded at $57.78, with a volume of 369,522 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on CBRL. Benchmark reiterated a "hold" rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. UBS Group reissued a "neutral" rating and issued a $60.00 price objective (up from $48.00) on shares of Cracker Barrel Old Country Store in a research note on Tuesday, June 3rd. Citigroup reiterated a "sell" rating and set a $42.00 price objective (up from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd. Finally, Bank of America boosted their target price on shares of Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store presently has a consensus rating of "Hold" and an average price target of $53.86.

Cracker Barrel Old Country Store Price Performance

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45. The company has a 50-day moving average of $49.41 and a 200-day moving average of $50.09. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.24 and a current ratio of 0.69.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.41. The firm had revenue of $821.10 million for the quarter, compared to analyst estimates of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 18.61% and a net margin of 1.15%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. As a group, research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. Cracker Barrel Old Country Store's dividend payout ratio is 38.76%.

Insider Activity at Cracker Barrel Old Country Store

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp bought 105,900 shares of the firm's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $35.94 per share, for a total transaction of $3,806,046.00. Following the purchase, the insider now directly owns 2,452,200 shares of the company's stock, valued at $88,132,068. The trade was a 4.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 385,307 shares of company stock valued at $15,679,910 over the last 90 days. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently bought and sold shares of the stock. GMT Capital Corp bought a new position in Cracker Barrel Old Country Store in the first quarter worth $78,750,000. Marshall Wace LLP boosted its position in Cracker Barrel Old Country Store by 151.9% in the fourth quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator's stock worth $40,544,000 after purchasing an additional 462,542 shares during the last quarter. Woodline Partners LP lifted its position in shares of Cracker Barrel Old Country Store by 340.8% during the 1st quarter. Woodline Partners LP now owns 332,790 shares of the restaurant operator's stock valued at $12,919,000 after buying an additional 257,301 shares in the last quarter. Towle & Co. purchased a new position in Cracker Barrel Old Country Store in the 4th quarter worth approximately $13,575,000. Finally, Trexquant Investment LP purchased a new position in Cracker Barrel Old Country Store in the 1st quarter worth approximately $4,795,000. 96.01% of the stock is currently owned by 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.