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

Posted by Defense World Staff on Sep 26th, 2023

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Free Report) shares reached a new 52-week low during trading on Monday after an insider sold shares in the company. The company traded as low as $66.02 and last traded at $66.06, with a volume of 33660 shares changing hands. The stock had previously closed at $66.75.

Specifically, CEO Sandra B. Cochran sold 24,700 shares of Cracker Barrel Old Country Store stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $67.13, for a total transaction of $1,658,111.00. Following the transaction, the chief executive officer now owns 193,810 shares in the company, valued at approximately $13,010,465.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CBRL. CL King dropped their price target on shares of Cracker Barrel Old Country Store from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, September 5th. Bank of America decreased their price objective on shares of Cracker Barrel Old Country Store from $90.00 to $75.00 and set an “underperform” rating on the stock in a research report on Thursday, September 14th. Citigroup decreased their price objective on shares of Cracker Barrel Old Country Store from $77.00 to $66.00 and set a “sell” rating on the stock in a research report on Thursday, September 14th. Piper Sandler assumed coverage on shares of Cracker Barrel Old Country Store in a research report on Monday, July 17th. They set a “neutral” rating and a $96.00 price objective on the stock. Finally, UBS Group decreased their price objective on shares of Cracker Barrel Old Country Store from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.44.

Read Our Latest Report on Cracker Barrel Old Country Store

Cracker Barrel Old Country Store Stock Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.19 and a current ratio of 0.58. The company has a market capitalization of $1.42 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.89 and a beta of 1.37. The business’s fifty day simple moving average is $83.42 and its 200-day simple moving average is $96.29.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last announced its quarterly earnings results on Wednesday, September 13th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.11. The company had revenue of $836.70 million for the quarter, compared to the consensus estimate of $841.59 million. Cracker Barrel Old Country Store had a net margin of 2.88% and a return on equity of 25.24%. Cracker Barrel Old Country Store’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. As a group, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 5.97 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 8.13%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 116.85%.

Institutional Trading of Cracker Barrel Old Country Store

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 0.8% in the 1st quarter. BlackRock Inc. now owns 2,549,306 shares of the restaurant operator’s stock worth $302,682,000 after buying an additional 21,310 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 2,304,547 shares of the restaurant operator’s stock worth $273,619,000 after buying an additional 75,245 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Cracker Barrel Old Country Store by 8.6% in the 4th quarter. Earnest Partners LLC now owns 1,908,956 shares of the restaurant operator’s stock worth $180,854,000 after buying an additional 151,897 shares during the last quarter. State Street Corp increased its holdings in shares of Cracker Barrel Old Country Store by 13.0% in the 1st quarter. State Street Corp now owns 848,891 shares of the restaurant operator’s stock worth $96,434,000 after buying an additional 97,728 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Cracker Barrel Old Country Store by 7.3% in the 1st quarter. Bank of America Corp DE now owns 752,989 shares of the restaurant operator’s stock worth $85,540,000 after buying an additional 50,927 shares during the last quarter. 93.66% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Company Profile

(Get Free Report)

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as dine-in, pick-up, and delivery services.