Cracker Barrel Old Country Store (NASDAQ:CBRL) Hits New 52-Week Low Following Insider Selling

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares hit a new 52-week low on Monday following insider selling activity. The company traded as low as $25.20 and last traded at $25.3750, with a volume of 871872 shares changing hands. The stock had previously closed at $25.95.

Specifically, major shareholder Gmt Capital Corp sold 42,400 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $26.03, for a total value of $1,103,672.00. Following the transaction, the insider owned 2,282,600 shares in the company, valued at approximately $59,416,078. This represents a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gmt Capital Corp sold 42,400 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 2,325,000 shares in the company, valued at $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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CBRL shares. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Thursday, December 11th. Bank of America lowered their price target on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a research note on Friday, December 19th. Truist Financial dropped their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Citigroup lowered their price objective 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. Finally, Piper Sandler reduced their price target on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Cracker Barrel Old Country Store has an average rating of “Reduce” and a consensus price target of $35.25.

Cracker Barrel Old Country Store Stock Down 2.2%

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.16. The stock has a market cap of $566.74 million, a price-to-earnings ratio of 33.83 and a beta of 1.24. The firm’s 50-day moving average is $29.68 and its 200 day moving average is $46.64.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The firm had revenue of $797.19 million for the quarter, compared to analysts’ expectations of $806.71 million. During the same period in the previous year, the company posted $0.45 earnings per share. Cracker Barrel Old Country Store’s revenue was down 5.7% compared to the same quarter last year. Sell-side 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 business also recently announced 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 is Friday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 133.33%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. increased its stake in Cracker Barrel Old Country Store by 1,068.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock worth $74,655,000 after buying an additional 1,117,617 shares during the period. Franklin Resources Inc. increased its stake in shares of Cracker Barrel Old Country Store by 13,737.1% in the third 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 last quarter. GMT Capital Corp raised its holdings in Cracker Barrel Old Country Store by 39.7% in the second quarter. GMT Capital Corp now owns 2,833,700 shares of the restaurant operator’s stock valued at $173,082,000 after acquiring an additional 805,100 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Cracker Barrel Old Country Store during the 2nd quarter valued at $43,930,000. Finally, Woodline Partners LP grew its holdings in Cracker Barrel Old Country Store by 340.8% during the 1st quarter. Woodline Partners LP now owns 332,790 shares of the restaurant operator’s stock worth $12,919,000 after acquiring an additional 257,301 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other 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.