Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 3.7% Following Insider Selling

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price fell 3.7% during trading on Friday following insider selling activity. The stock traded as low as $26.41 and last traded at $26.3380. 171,747 shares traded hands during trading, a decline of 86% from the average session volume of 1,255,938 shares. The stock had previously closed at $27.35.

Specifically, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $26.13, for a total value of $1,107,912.00. Following the completion of the sale, the insider directly owned 2,409,800 shares in the company, valued at approximately $62,968,074. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

CBRL has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective 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. Citigroup decreased their price target 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. Argus dropped their price objective on shares of Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Bank of America reduced their price objective 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. Finally, Gordon Haskett upgraded shares of Cracker Barrel Old Country Store to a “strong sell” rating in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $35.25.

Cracker Barrel Old Country Store Stock Performance

The stock’s 50 day simple moving average is $31.12 and its two-hundred day simple moving average is $47.82. The company has a market capitalization of $585.27 million, a P/E ratio of 34.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.16.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The company 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 quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Friday, January 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 16th. This represents a $1.00 annualized dividend and a yield of 3.8%. Cracker Barrel Old Country Store’s payout ratio is currently 133.33%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently modified their holdings of CBRL. Caitong International Asset Management Co. Ltd bought a new position in shares of Cracker Barrel Old Country Store during the third quarter worth about $26,000. Brooklyn Investment Group acquired a new position in Cracker Barrel Old Country Store during the 1st quarter worth approximately $30,000. Assetmark Inc. grew its stake 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 worth $31,000 after acquiring 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 worth approximately $37,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Cracker Barrel Old Country Store by 360.2% in the first quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 922 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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.