Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading 6.8% Higher on Insider Buying Activity

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shot up 6.8% during mid-day trading on Monday following insider buying activity. The stock traded as high as $44.84 and last traded at $43.78. 217,179 shares were traded during mid-day trading, a decline of 74% from the average session volume of 822,243 shares. The stock had previously closed at $40.97.

Specifically, major shareholder Gmt Capital Corp bought 31,800 shares of Cracker Barrel Old Country Store stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average cost of $37.31 per share, with a total value of $1,186,458.00. Following the completion of the acquisition, the insider now owns 2,484,000 shares of the company’s stock, valued at $92,678,040. This trade represents a 1.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gmt Capital Corp bought 105,900 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $35.94 per share, for a total transaction of $3,806,046.00. Following the completion of the transaction, the insider now directly owns 2,452,200 shares of the company’s stock, valued at $88,132,068. This represents a 4.51 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of analysts have issued reports on CBRL shares. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. Citigroup upped their price target on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the company a “sell” rating in a research note on Friday, March 7th. Truist Financial upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and increased their price objective for the company from $51.00 to $55.00 in a research report on Monday, March 10th. Loop Capital reduced their target price on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.13.

Cracker Barrel Old Country Store Stock Performance

The business’s 50 day moving average is $42.98 and its 200 day moving average is $49.03. The stock has a market capitalization of $964.21 million, a PE ratio of 23.93, a PEG ratio of 8.36 and a beta of 1.39. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 62.11%.

Institutional Trading of Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC increased its stake in Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock worth $29,000 after buying an additional 487 shares during the period. Smartleaf Asset Management LLC grew its stake in Cracker Barrel Old Country Store by 1,601.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator’s stock worth $52,000 after acquiring an additional 913 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Cracker Barrel Old Country Store during the fourth quarter worth approximately $56,000. Public Employees Retirement System of Ohio raised its stake in shares of Cracker Barrel Old Country Store by 22.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 247 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 142.8% in the fourth quarter. GAMMA Investing LLC now owns 2,370 shares of the restaurant operator’s stock valued at $125,000 after purchasing an additional 1,394 shares during the period. 96.01% of the stock is currently owned by institutional investors.

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.