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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares were down 3.7% on Friday following insider selling activity. The stock traded as low as $26.41 and last traded at $26.3380. Approximately 171,747 shares traded hands during trading, a decline of 86% from the average daily 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 stock was sold at an average price of $26.13, for a total value of $1,107,912.00. Following the completion of the transaction, the insider directly owned 2,409,800 shares of the company’s stock, valued at approximately $62,968,074. The trade was a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

CBRL has been the topic of a number of recent research reports. Wall Street Zen downgraded Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 20th. UBS Group decreased their price target on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Zacks Research upgraded shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Gordon Haskett raised shares of Cracker Barrel Old Country Store to a “strong sell” rating in a research report on Wednesday, December 10th. Finally, 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 research note on Friday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $35.25.

Cracker Barrel Old Country Store Stock Down 4.2%

The company’s 50-day moving average is $31.12 and its 200 day moving average is $47.76. The stock has a market capitalization of $585.27 million, a PE ratio of 34.95 and a beta of 1.24. The company has a current ratio of 0.51, a quick ratio of 0.16 and a debt-to-equity ratio of 0.93.

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 the consensus estimate of ($0.78) by $0.04. The company had revenue of $797.19 million for the quarter, compared to the consensus estimate of $806.71 million. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. Cracker Barrel Old Country Store’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Friday, January 16th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 133.33%.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in Cracker Barrel Old Country Store by 517.3% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 419 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Cracker Barrel Old Country Store during the second quarter worth about $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in Cracker Barrel Old Country Store in the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in Cracker Barrel Old Country Store in the first quarter valued at approximately $30,000. Finally, Byrne Asset Management LLC acquired a new position in Cracker Barrel Old Country Store in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

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.