Insider Selling: Cracker Barrel Old Country Store (NASDAQ:CBRL) SVP Sells $182,280.00 in Stock

Key Points

• Cracker Barrel SVP Donna Roberts sold 3,500 shares at an average price of $52.08, totaling $182,280. The sale reduced her holdings by 7.41% and was made to cover tax-withholding obligations tied to vested equity awards.
• CBRL shares fell 1.7% to $51.72, while the company’s latest quarterly results exceeded expectations: adjusted earnings were $0.99 per share versus the $0.17 consensus, and revenue reached $849.34 million.
• The company declared a quarterly dividend of $0.25, equivalent to a 1.9% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $50.86.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) SVP Donna Roberts sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $52.08, for a total transaction of $182,280.00. Following the transaction, the senior vice president owned 43,702 shares of the company's stock, valued at approximately $2,276,000.16. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cracker Barrel Old Country Store Stock Down 1.7%

CBRL traded down $0.90 during trading on Thursday, hitting $51.72. The stock had a trading volume of 763,777 shares, compared to its average volume of 1,193,641. The stock has a 50 day simple moving average of $53.78 and a two-hundred day simple moving average of $42.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.24 and a current ratio of 0.58. Cracker Barrel Old Country Store, Inc. has a twelve month low of $24.85 and a twelve month high of $60.26. The company has a market capitalization of $1.16 billion, a PE ratio of 36.94, a PEG ratio of 1.03 and a beta of 1.19.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings results on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.82. Cracker Barrel Old Country Store had a return on equity of 4.01% and a net margin of 0.95%.The business had revenue of $849.34 million for the quarter, compared to the consensus estimate of $834.57 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The business's quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 1.18 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 16th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is 71.43%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CBRL shares. Piper Sandler restated a "neutral" rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 21st. Zacks Research raised shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a report on Monday, August 24th. Wells Fargo & Company boosted their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a research report on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $50.86.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently bought and sold shares of the business. Axiom Investment Management LLC purchased a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at $28,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cracker Barrel Old Country Store by 107.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,246 shares of the restaurant operator's stock worth $32,000 after purchasing an additional 645 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Cracker Barrel Old Country Store during the fourth quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new position in shares of Cracker Barrel Old Country Store during the second quarter worth $91,000. Finally, PNC Financial Services Group Inc. lifted its position in Cracker Barrel Old Country Store by 22.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 321 shares during the period. 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 operates a chain of full-service restaurants and retail stores under the Cracker Barrel brand. Its restaurants offer Southern-inspired, homestyle meals, including breakfast served throughout the day, lunch, dinner and seasonal menu items.

The company's adjoining country stores sell a variety of merchandise, including home décor, apparel, gifts, toys, games, candy, music and food products. Cracker Barrel's locations are designed around a nostalgic country-store and roadside dining experience, with many restaurants featuring front porches and rocking chairs.

Founded in 1969 by Dan Evins, the company opened its first location in Lebanon, Tennessee.

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