Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 6.1% – What’s Next?
by Kim Johansen · The Markets DailyShares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Free Report) fell 6.1% on Friday . The stock traded as low as $34.51 and last traded at $34.4650. 1,153,499 shares were traded during trading, a decline of 37% from the average session volume of 1,841,357 shares. The stock had previously closed at $36.70.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on CBRL shares. Citigroup cut their target price on shares of Cracker Barrel Old Country Store from $24.00 to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, December 10th. Wall Street Zen cut Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 20th. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Thursday, December 11th. Wells Fargo & Company lowered their price target on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Finally, Gordon Haskett upgraded Cracker Barrel Old Country Store to a “strong sell” rating in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $35.25.
Read Our Latest Report on CBRL
Cracker Barrel Old Country Store Price Performance
The firm has a market capitalization of $770.54 million, a price-to-earnings ratio of 46.01 and a beta of 1.27. The company has a current ratio of 0.51, a quick ratio of 0.16 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $28.15 and a two-hundred day moving average price of $43.57.
Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last issued its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $797.19 million during the quarter, compared to the consensus estimate of $806.71 million. Cracker Barrel Old Country Store had a return on equity of 9.74% and a net margin of 0.49%.The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. As a group, research analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.
Cracker Barrel Old Country Store Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Friday, January 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 16th. Cracker Barrel Old Country Store’s payout ratio is presently 133.33%.
Insider Buying and Selling
In other news, major shareholder Gmt Capital Corp sold 84,700 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $28.15, for a total value of $2,384,305.00. Following the completion of the transaction, the insider owned 2,749,000 shares of the company’s stock, valued at approximately $77,384,350. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 381,500 shares of company stock valued at $10,258,409. 1.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Cracker Barrel Old Country Store
Several institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Cracker Barrel Old Country Store during the third quarter worth about $26,000. Assetmark Inc. boosted its position in shares of Cracker Barrel Old Country Store by 517.3% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 419 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at about $37,000. Byrne Asset Management LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 3rd quarter worth approximately $51,000. Finally, State of Wyoming bought a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 96.01% of the company’s stock.
Cracker Barrel Old Country Store Company Profile
Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.
The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.