Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Sees Significant Drop in Short Interest

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 2,630,000 shares, a decrease of 17.3% from the February 13th total of 3,180,000 shares. Based on an average daily volume of 828,600 shares, the days-to-cover ratio is currently 3.2 days. Currently, 12.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

CBRL has been the topic of a number of research analyst reports. 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 lifted their price target on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Piper Sandler upped their price target on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Bank of America lifted their price objective on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, December 5th. Finally, Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.13.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently modified their holdings of CBRL. Public Employees Retirement System of Ohio boosted its position in 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 worth $61,000 after acquiring an additional 247 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 0.3% during the third quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator’s stock worth $4,536,000 after purchasing an additional 321 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Cracker Barrel Old Country Store by 6.1% in the fourth quarter. Captrust Financial Advisors now owns 6,302 shares of the restaurant operator’s stock valued at $333,000 after purchasing an additional 361 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cracker Barrel Old Country Store by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,592 shares of the restaurant operator’s stock valued at $666,000 after purchasing an additional 417 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in Cracker Barrel Old Country Store by 685.9% in the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 487 shares during the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL traded down $0.21 during trading on Tuesday, reaching $39.33. The company had a trading volume of 359,759 shares, compared to its average volume of 779,500. The stock has a market capitalization of $875.56 million, a PE ratio of 21.68, a price-to-earnings-growth ratio of 8.36 and a beta of 1.57. The stock has a 50-day moving average price of $52.15 and a two-hundred day moving average price of $49.24. Cracker Barrel Old Country Store has a twelve month low of $34.88 and a twelve month high of $74.21. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 62.11%.

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.