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

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) hit a new 52-week low on Monday after an insider sold shares in the company. The stock traded as low as $25.20 and last traded at $25.3750, with a volume of 871872 shares traded. The stock had previously closed at $25.95.

Specifically, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $26.03, for a total transaction of $1,103,672.00. Following the transaction, the insider directly owned 2,282,600 shares of the company’s stock, valued at approximately $59,416,078. The trade was a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $26.37, for a total transaction of $1,118,088.00. Following the transaction, the insider owned 2,325,000 shares in the company, valued at approximately $61,310,250. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Thursday, December 11th. Truist Financial lowered 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 research note on Wednesday, December 10th. Zacks Research raised shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Wells Fargo & Company decreased their target price on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 10th. Finally, Piper Sandler reduced their price objective 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. 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’s stock. According to data from MarketBeat, Cracker Barrel Old Country Store has a consensus rating of “Reduce” and a consensus target price of $35.25.

Cracker Barrel Old Country Store Price Performance

The company’s fifty day moving average is $29.45 and its two-hundred day moving average is $46.43. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $565.62 million, a price-to-earnings ratio of 33.77 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The business had revenue of $797.19 million during the quarter, compared to analysts’ expectations of $806.71 million. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. Equities 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 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio is 133.33%.

Institutional Trading of Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of the company. GMT Capital Corp boosted its stake in shares of Cracker Barrel Old Country Store by 39.7% during the 2nd quarter. GMT Capital Corp now owns 2,833,700 shares of the restaurant operator’s stock worth $173,082,000 after buying an additional 805,100 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Cracker Barrel Old Country Store by 19.5% in the third quarter. Alliancebernstein L.P. now owns 1,459,983 shares of the restaurant operator’s stock valued at $64,327,000 after purchasing an additional 237,741 shares during the last quarter. Franklin Resources Inc. increased its position in Cracker Barrel Old Country Store by 13,737.1% during the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after buying an additional 923,409 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cracker Barrel Old Country Store by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 743,413 shares of the restaurant operator’s stock valued at $32,756,000 after purchasing an additional 15,661 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $43,930,000. 96.01% of the stock is currently 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.