Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Down 4.6% – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares dropped 4.6% on Wednesday . The stock traded as low as $44.82 and last traded at $45.07. Approximately 239,986 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 730,084 shares. The stock had previously closed at $47.22.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBRL. Bank of America increased their price target on Cracker Barrel Old Country Store from $42.00 to $45.00 and gave the stock an “underperform” rating in a report on Friday, November 15th. UBS Group lowered their target price on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, September 19th. Piper Sandler lifted their price objective on shares of Cracker Barrel Old Country Store from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Truist Financial raised their price objective on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.25.

Cracker Barrel Old Country Store Stock Performance

The company has a current ratio of 0.61, a quick ratio of 0.21 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.42. The stock’s 50-day simple moving average is $45.62 and its 200-day simple moving average is $44.67.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.19). The business had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.58%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.79 EPS. Analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.97 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Friday, October 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, October 18th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 55.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CBRL. Vanguard Group Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock worth $190,263,000 after buying an additional 6,804 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Cracker Barrel Old Country Store by 0.4% during the 1st quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator’s stock worth $148,107,000 after acquiring an additional 7,587 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Cracker Barrel Old Country Store by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after acquiring an additional 111,892 shares during the last quarter. Marshall Wace LLP bought a new position in Cracker Barrel Old Country Store during the second quarter worth about $25,636,000. Finally, Verition Fund Management LLC raised its position in shares of Cracker Barrel Old Country Store by 96.0% in the third quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock valued at $7,299,000 after purchasing an additional 78,816 shares during the period. 96.01% of the stock is 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.