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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was up 6.8% on Monday after an insider bought additional shares in the company. The stock traded as high as $44.84 and last traded at $43.78. Approximately 217,179 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 822,243 shares. The stock had previously closed at $40.97.

Specifically, major shareholder Gmt Capital Corp purchased 31,800 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average price of $37.31 per share, for a total transaction of $1,186,458.00. Following the acquisition, the insider now directly owns 2,484,000 shares in the company, valued at approximately $92,678,040. The trade was a 1.30 % increase in their position. The acquisition 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 on Friday, April 4th. The shares were 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 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.

Wall Street Analysts Forecast Growth

CBRL has been the topic of a number of analyst reports. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. Truist Financial raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.00 to $55.00 in a research note on Monday, March 10th. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. Citigroup raised their target price on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, March 7th. Finally, Loop Capital decreased their price objective on 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. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.13.

Cracker Barrel Old Country Store Stock Up 6.8 %

The firm has a 50 day moving average price of $43.63 and a two-hundred day moving average price of $49.09. The firm has a market capitalization of $974.56 million, a price-to-earnings ratio of 24.19, a price-to-earnings-growth 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, April 11th. Cracker Barrel Old Country Store’s payout ratio is currently 62.11%.

Institutional Trading of Cracker Barrel Old Country Store

A number of institutional investors have recently added to or reduced their stakes in the business. Cibc World Market Inc. purchased a new stake in shares of Cracker Barrel Old Country Store during the fourth quarter valued at approximately $11,711,000. Charles Schwab Investment Management Inc. increased its position in shares of Cracker Barrel Old Country Store by 9.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator’s stock worth $62,452,000 after acquiring an additional 106,440 shares during the last quarter. Good Life Advisors LLC purchased a new position in Cracker Barrel Old Country Store in the fourth quarter valued at about $404,000. Total Clarity Wealth Management Inc. bought a new position in Cracker Barrel Old Country Store during the 4th quarter valued at $256,000. Finally, Wealthfront Advisers LLC acquired a new position in Cracker Barrel Old Country Store during the 4th quarter worth $704,000. 96.01% of the stock is owned by hedge funds and other institutional investors.

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.