Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Down 7.4% – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price dropped 7.4% during trading on Monday . The company traded as low as $32.04 and last traded at $31.2480. Approximately 93,680 shares traded hands during trading, a decline of 93% from the average daily volume of 1,435,325 shares. The stock had previously closed at $33.75.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CBRL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, December 29th. Truist Financial cut their price target on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. UBS Group decreased their price objective on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Piper Sandler cut their target price on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Finally, Bank of America reduced their target price on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating for the company in a report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Cracker Barrel Old Country Store has an average rating of “Reduce” and a consensus target price of $35.75.

Cracker Barrel Old Country Store Stock Up 0.5%

The stock has a fifty day moving average price of $30.21 and a two-hundred day moving average price of $37.27. The company has a market cap of $697.81 million, a price-to-earnings ratio of 41.67 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The business had revenue of $797.19 million for the quarter, compared to the consensus estimate of $806.71 million. During the same period in the prior year, the company posted $0.45 earnings per share. Cracker Barrel Old Country Store’s revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Gmt Capital Corp sold 84,700 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $28.15, for a total transaction of $2,384,305.00. Following the completion of the sale, the insider owned 2,749,000 shares of the company’s stock, valued at $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 is available through the SEC website. Insiders sold a total of 381,500 shares of company stock valued at $10,258,409 over the last three months. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently bought and sold shares of CBRL. Hamilton Wealth LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter worth approximately $219,000. Invesco Ltd. boosted its holdings in shares of Cracker Barrel Old Country Store by 46.5% in the 4th quarter. Invesco Ltd. now owns 477,595 shares of the restaurant operator’s stock valued at $12,131,000 after purchasing an additional 151,633 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $2,659,000. SummitTX Capital L.P. increased its stake in shares of Cracker Barrel Old Country Store by 526.0% in the 4th quarter. SummitTX Capital L.P. now owns 107,626 shares of the restaurant operator’s stock valued at $2,734,000 after purchasing an additional 90,434 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $1,023,000. 96.01% of the stock is owned by institutional investors.

About Cracker Barrel Old Country Store

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.