Cracker Barrel Old Country Store (NASDAQ:CBRL) Announces Earnings Results

by · The Markets Daily

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) issued its earnings results on Wednesday. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.35, FiscalAI reports. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The company had revenue of $874.82 million for the quarter, compared to analyst estimates of $862.89 million.

Cracker Barrel Old Country Store Stock Performance

CBRL stock traded down $0.09 during midday trading on Wednesday, reaching $30.62. The company had a trading volume of 1,538,582 shares, compared to its average volume of 1,424,442. The firm has a market capitalization of $683.74 million, a PE ratio of 40.83 and a beta of 1.24. The stock has a 50 day moving average price of $30.76 and a 200 day moving average price of $36.25. Cracker Barrel Old Country Store has a fifty-two week low of $24.85 and a fifty-two week high of $71.93. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93.

Insider Transactions at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp sold 42,400 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the completion of the transaction, the insider owned 2,240,200 shares in the company, valued at approximately $57,259,512. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 254,400 shares of company stock valued at $6,661,464 in the last quarter. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBRL. Caitong International Asset Management Co. Ltd bought a new stake in Cracker Barrel Old Country Store during the 3rd quarter valued at $26,000. Canada Pension Plan Investment Board purchased a new stake in shares of Cracker Barrel Old Country Store during the second quarter worth $37,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 35.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,408 shares of the restaurant operator’s stock valued at $106,000 after buying an additional 633 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Cracker Barrel Old Country Store by 331.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,973 shares of the restaurant operator’s stock worth $182,000 after acquiring an additional 2,284 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $213,000. 96.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

CBRL has been the subject of a number of research reports. Zacks Research upgraded shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Piper Sandler reduced their target price on Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 10th. Citigroup boosted their price objective on shares of Cracker Barrel Old Country Store from $20.00 to $24.00 and gave the company a “sell” rating in a research note on Friday, February 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, December 29th. Finally, Wells Fargo & Company reduced their price target on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of “Reduce” and a consensus target price of $35.75.

Get Our Latest Analysis on CBRL

About Cracker Barrel Old Country Store

(Get Free Report)

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.

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