Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 6.1% – Here’s Why

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded down 6.1% on Monday . The stock traded as low as $54.85 and last traded at $54.01. 91,241 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 711,410 shares. The stock had previously closed at $57.50.

Analysts Set New Price Targets

CBRL has been the topic of a number of recent research reports. Bank of America lifted their target price on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, December 5th. StockNews.com lowered shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, December 6th. Truist Financial increased their target price on shares of Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Loop Capital boosted their price target on Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Piper Sandler increased their price objective on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has an average rating of “Hold” and a consensus price target of $57.63.

Cracker Barrel Old Country Store Stock Down 5.2 %

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 10.38 and a beta of 1.48. The firm’s 50-day simple moving average is $56.28 and its two-hundred day simple moving average is $48.63.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, January 17th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 55.25%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter worth about $2,526,000. Cibc World Market Inc. purchased a new position in Cracker Barrel Old Country Store during the fourth quarter worth about $11,711,000. Charles Schwab Investment Management Inc. grew 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 valued at $48,752,000 after buying an additional 111,892 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter worth approximately $256,000. Finally, PDT Partners LLC grew its holdings in Cracker Barrel Old Country Store by 199.3% in the third quarter. PDT Partners LLC now owns 29,925 shares of the restaurant operator’s stock valued at $1,357,000 after purchasing an additional 19,925 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.