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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,600,000 shares, a decline of 15.6% from the January 15th total of 3,080,000 shares. Based on an average trading volume of 753,300 shares, the short-interest ratio is currently 3.5 days. Currently, 12.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group lifted their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler raised their target price on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Truist Financial lifted their price target on Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Loop Capital increased their price objective on Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.63.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several large investors have recently made changes to their positions in CBRL. Sterling Capital Management LLC grew its position in Cracker Barrel Old Country Store by 685.9% during the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 487 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 stake in Cracker Barrel Old Country Store in the 4th quarter worth $56,000. Public Employees Retirement System of Ohio raised 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 period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Cracker Barrel Old Country Store during the third quarter valued at $79,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL traded down $2.08 during mid-day trading on Monday, reaching $47.33. The company had a trading volume of 625,823 shares, compared to its average volume of 671,293. The stock has a market capitalization of $1.05 billion, a P/E ratio of 26.15, a PEG ratio of 10.38 and a beta of 1.48. Cracker Barrel Old Country Store has a 52-week low of $34.88 and a 52-week high of $74.54. The stock has a 50 day moving average of $56.05 and a two-hundred day moving average of $48.71. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Friday, January 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. Cracker Barrel Old Country Store’s payout ratio is 55.25%.

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.