Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Down – Should You Sell?

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) gapped down prior to trading on Tuesday . The stock had previously closed at $60.74, but opened at $57.68. Cracker Barrel Old Country Store shares last traded at $57.78, with a volume of 369,522 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. UBS Group reaffirmed a “neutral” rating and issued a $60.00 price target (up previously from $48.00) on shares of Cracker Barrel Old Country Store in a report on Tuesday, June 3rd. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, March 10th. Loop Capital boosted their price objective on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday. Finally, Citigroup reiterated a “sell” rating and issued a $42.00 price objective (up from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.71.

Cracker Barrel Old Country Store Trading Down 6.8%

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. The stock’s 50-day moving average price is $47.96 and its 200 day moving average price is $50.00. The firm has a market capitalization of $1.26 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.41. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The company had revenue of $821.10 million during the quarter, compared to the consensus estimate of $824.65 million. During the same period last year, the firm earned $0.88 earnings per share. Cracker Barrel Old Country Store’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS 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, August 13th. Investors of record on Friday, July 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, July 18th. Cracker Barrel Old Country Store’s payout ratio is 38.76%.

Insider Transactions at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp purchased 31,800 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $37.31 per share, with a total value of $1,186,458.00. Following the transaction, the insider now owns 2,484,000 shares of the company’s stock, valued at approximately $92,678,040. This trade represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 385,307 shares of company stock worth $15,679,910 over the last three months. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Cracker Barrel Old Country Store by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,613,358 shares of the restaurant operator’s stock valued at $138,142,000 after purchasing an additional 13,305 shares during the period. GMT Capital Corp purchased a new stake in Cracker Barrel Old Country Store in the 1st quarter valued at about $78,750,000. Charles Schwab Investment Management Inc. lifted its position in Cracker Barrel Old Country Store by 9.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator’s stock valued at $62,452,000 after buying an additional 106,440 shares during the last quarter. Marshall Wace LLP increased its holdings in Cracker Barrel Old Country Store by 151.9% in the 4th quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator’s stock valued at $40,544,000 after purchasing an additional 462,542 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Cracker Barrel Old Country Store by 2.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 648,342 shares of the restaurant operator’s stock valued at $34,271,000 after acquiring an additional 16,333 shares in 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 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.