Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 4.6% - Here's What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s share price dropped 4.6% during mid-day trading on Monday . The stock traded as low as $64.54 and last traded at $64.20. Approximately 588,385 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 855,061 shares. The stock had previously closed at $67.28.

Analyst Ratings Changes

Several brokerages recently issued reports on CBRL. Truist Financial upped their price target on shares of Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Loop Capital increased their price target on shares of Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, June 6th. UBS Group increased their target price on Cracker Barrel Old Country Store from $60.00 to $69.00 and gave the stock a "neutral" rating in a research note on Monday. Bank of America increased their target price on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a research note on Friday, June 6th. Finally, Citigroup reissued a "sell" rating and set a $42.00 target price (up from $39.00) on shares of Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $55.14.

Cracker Barrel Old Country Store Trading Down 4.3%

The firm's 50-day moving average is $57.82 and its 200-day moving average is $51.46. The company has a current ratio of 0.65, a quick ratio of 0.26 and a debt-to-equity ratio of 1.04. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 6.27 and a beta of 1.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $821.10 million for the quarter, compared to analysts' expectations of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. As a group, sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Friday, July 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 1.55%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 38.76%.

Insider Activity

In related news, major shareholder Gmt Capital Corp purchased 53,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were purchased at an average price of $41.84 per share, with a total value of $2,217,520.00. Following the acquisition, the insider directly owned 2,674,800 shares in the company, valued at $111,913,632. The trade was a 2.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 247,607 shares of company stock valued at $10,687,406. 1.40% of the stock is owned by company insiders.

Institutional Trading of Cracker Barrel Old Country Store

A number of large investors have recently made changes to their positions in CBRL. Raymond James Financial Inc. acquired a new position in shares of Cracker Barrel Old Country Store during the fourth quarter valued at about $4,597,000. Amundi boosted its position in Cracker Barrel Old Country Store by 202.4% in the fourth quarter. Amundi now owns 10,729 shares of the restaurant operator's stock valued at $615,000 after buying an additional 7,181 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $704,000. HighTower Advisors LLC purchased a new stake in Cracker Barrel Old Country Store in the 4th quarter worth approximately $231,000. Finally, William Blair Investment Management LLC boosted its position in Cracker Barrel Old Country Store by 1.9% in the 4th quarter. William Blair Investment Management LLC now owns 303,550 shares of the restaurant operator's stock worth $16,046,000 after purchasing an additional 5,803 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

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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