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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) hit a new 52-week low during trading on Wednesday after Truist Financial lowered their price target on the stock from $50.00 to $45.00. Truist Financial currently has a buy rating on the stock. Cracker Barrel Old Country Store traded as low as $25.25 and last traded at $27.0740, with a volume of 2583243 shares changing hands. The stock had previously closed at $27.00.

Several other analysts also recently commented on the stock. Bank of America dropped their price objective on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating on the stock in a report on Thursday, September 18th. Piper Sandler restated a “neutral” rating and set a $27.00 target price on shares of Cracker Barrel Old Country Store in a research report on Wednesday. Wells Fargo & Company reaffirmed a “negative” rating and set a $30.00 price target on shares of Cracker Barrel Old Country Store in a research report on Wednesday. Argus reduced their price objective on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Finally, Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $37.38.

Insider Buying and Selling

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp sold 42,400 shares of Cracker Barrel Old Country Store stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $28.60, for a total transaction of $1,212,640.00. Following the sale, the insider owned 2,706,600 shares of the company’s stock, valued at $77,408,760. The trade was a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC boosted its holdings in Cracker Barrel Old Country Store by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator’s stock valued at $1,214,000 after purchasing an additional 311 shares during the last quarter. Parvin Asset Management LLC increased its holdings in Cracker Barrel Old Country Store by 4.4% in the 2nd quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock valued at $507,000 after purchasing an additional 350 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Cracker Barrel Old Country Store by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock valued at $349,000 after purchasing an additional 389 shares during the last quarter. Assetmark Inc. raised its position in Cracker Barrel Old Country Store by 517.3% in the second 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 period. Finally, Arizona State Retirement System lifted its stake in Cracker Barrel Old Country Store by 7.2% during the third quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock worth $276,000 after purchasing an additional 419 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

The company has a quick ratio of 0.21, a current ratio of 0.50 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $33.59 and a 200 day moving average price of $49.42. The firm has a market capitalization of $606.23 million, a PE ratio of 13.07 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. The company had revenue of $845.09 million during the quarter. Cracker Barrel Old Country Store had a return on equity of 15.48% and a net margin of 1.33%. Research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 48.31%.

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.