Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 4.7% – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price traded down 4.7% on Friday . The company traded as low as $55.20 and last traded at $54.00. 102,290 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 743,854 shares. The stock had previously closed at $56.66.

Wall Street Analyst Weigh In

A number of research firms have commented on CBRL. StockNews.com downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research report on Friday, December 6th. Argus raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, November 18th. UBS Group boosted their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Truist Financial increased their target price on Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Loop Capital boosted their price target on Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.63.

Cracker Barrel Old Country Store Stock Down 3.8 %

The company has a 50-day moving average of $52.79 and a 200-day moving average of $46.43. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.45.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, January 17th. Cracker Barrel Old Country Store’s payout ratio is currently 55.25%.

Institutional Trading of Cracker Barrel Old Country Store

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Cracker Barrel Old Country Store by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after buying an additional 111,892 shares during the period. Marshall Wace LLP acquired a new stake in Cracker Barrel Old Country Store during the 2nd quarter worth about $25,636,000. Verition Fund Management LLC increased its holdings 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. Advisors Asset Management Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 0.3% in the third quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator’s stock valued at $4,536,000 after purchasing an additional 321 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter worth about $4,498,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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.