Cracker Barrel Old Country Store (NASDAQ:CBRL) Sets New 1-Year Low After Analyst Downgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $24.00 to $20.00. Citigroup currently has a sell rating on the stock. Cracker Barrel Old Country Store traded as low as $25.25 and last traded at $27.0740, with a volume of 2583243 shares traded. The stock had previously closed at $27.00.

A number of other equities research analysts also recently issued reports on the company. 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. Argus reduced their target price on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 29th. Piper Sandler decreased their price target 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. UBS Group dropped their price target on Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Zacks Research upgraded shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $36.88.

Insiders Place Their Bets

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp sold 42,400 shares of Cracker Barrel Old Country Store stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $26.89, for a total value of $1,140,136.00. Following the transaction, the insider owned 2,579,400 shares in the company, valued at $69,360,066. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 169,500 shares of company stock valued at $4,737,081 over the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at approximately $26,000. Dark Forest Capital Management LP acquired a new stake in Cracker Barrel Old Country Store in the third quarter valued at approximately $2,459,000. Verition Fund Management LLC boosted its position in Cracker Barrel Old Country Store by 640.9% in the third quarter. Verition Fund Management LLC now owns 154,213 shares of the restaurant operator’s stock valued at $6,795,000 after buying an additional 133,399 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth $1,423,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Cracker Barrel Old Country Store during the third quarter worth $1,364,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Up 3.5%

The company has a current ratio of 0.50, a quick ratio of 0.21 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $622.45 million, a P/E ratio of 37.27 and a beta of 1.24. The stock has a 50 day moving average price of $33.28 and a 200 day moving average price of $49.27.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. Cracker Barrel Old Country Store had a return on equity of 9.55% and a net margin of 0.49%.The business had revenue of $845.09 million for the quarter. On average, research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 48.31%.

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.