Short Interest in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Decreases By 11.9%

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 2,660,000 shares, a drop of 11.9% from the June 30th total of 3,020,000 shares. Based on an average trading volume of 884,600 shares, the short-interest ratio is currently 3.0 days. Approximately 12.3% of the company’s stock are short sold.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL stock traded up $1.16 on Tuesday, hitting $46.40. 620,834 shares of the stock traded hands, compared to its average volume of 762,712. The company’s fifty day moving average is $44.36 and its 200 day moving average is $58.90. Cracker Barrel Old Country Store has a 1-year low of $38.49 and a 1-year high of $95.15. The company has a market capitalization of $1.03 billion, a PE ratio of 17.12, a PEG ratio of 0.94 and a beta of 1.43. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.63 and a quick ratio of 0.23.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.32. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The firm had revenue of $817.14 million during the quarter, compared to analyst estimates of $820.61 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Cracker Barrel Old Country Store will post 3.82 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 36.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBRL shares. Loop Capital cut their price target on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Citigroup reduced their target price on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a research note on Friday, May 31st. Truist Financial decreased their price target on shares of Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, May 31st. CL King cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a report on Friday, May 17th. Finally, Benchmark raised shares of Cracker Barrel Old Country Store to a “hold” rating in a report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.86.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter worth approximately $32,000. CWM LLC lifted its stake in Cracker Barrel Old Country Store by 96.3% in the second quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 419 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Cracker Barrel Old Country Store during the first quarter valued at $73,000. Security National Bank acquired a new position in shares of Cracker Barrel Old Country Store during the fourth quarter valued at $81,000. Finally, Bank & Trust Co bought a new position in shares of Cracker Barrel Old Country Store during the second quarter worth about $81,000. 96.01% of the stock is currently 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.