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

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

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL stock traded up $1.16 during trading hours on Tuesday, reaching $46.40. The stock had a trading volume of 620,834 shares, compared to its average volume of 762,712. The firm has a 50-day simple moving average of $44.36 and a 200-day simple moving average of $58.90. The firm has a market capitalization of $1.03 billion, a PE ratio of 17.12, a price-to-earnings-growth 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 has a twelve month low of $38.49 and a twelve month high of $95.15.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data 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 company had revenue of $817.14 million during the quarter, compared to analyst estimates of $820.61 million. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts forecast that Cracker Barrel Old Country Store will post 3.82 earnings per share for the current year.

Cracker Barrel Old Country Store Cuts Dividend

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

Institutional Trading of Cracker Barrel Old Country Store

A number of hedge funds have recently bought and sold shares of CBRL. GAMMA Investing LLC purchased a new stake in Cracker Barrel Old Country Store during the fourth quarter valued at about $32,000. CWM LLC lifted its stake in Cracker Barrel Old Country Store by 96.3% during 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Cracker Barrel Old Country Store during the first quarter valued at about $73,000. Security National Bank purchased a new stake in Cracker Barrel Old Country Store during the fourth quarter valued at about $81,000. Finally, Bank & Trust Co purchased a new stake in Cracker Barrel Old Country Store during the second quarter valued at about $81,000. 96.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CBRL has been the subject of several analyst reports. Benchmark upgraded shares of Cracker Barrel Old Country Store to a “hold” rating in a research note on Monday, June 3rd. Bank of America cut their price target on shares of Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. CL King cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Friday, May 17th. Citigroup dropped their target price on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating on the stock in a report on Friday, May 31st. Finally, Truist Financial dropped their target price on shares of Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.86.

About Cracker Barrel Old Country Store

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.