Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 6.1% - Should You Sell?

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) dropped 6.1% during mid-day trading on Monday . The stock traded as low as $54.85 and last traded at $54.01. Approximately 91,241 shares changed hands during trading, a decline of 87% from the average daily volume of 711,410 shares. The stock had previously closed at $57.50.

Analysts Set New Price Targets

CBRL has been the topic of several recent research reports. Truist Financial upped 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 note on Thursday, January 16th. UBS Group increased their price objective on 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. StockNews.com lowered Cracker Barrel Old Country Store from a "hold" rating to a "sell" rating in a research report on Friday, December 6th. Piper Sandler raised their price target on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Finally, Loop Capital boosted their price objective on shares of 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $57.63.

Cracker Barrel Old Country Store Trading Down 0.6 %

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.24 and a current ratio of 0.69. The company has a market capitalization of $1.10 billion, a P/E ratio of 27.30, a PEG ratio of 10.38 and a beta of 1.48. The stock has a fifty day moving average of $56.15 and a 200 day moving average of $48.64.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Friday, January 17th were given a $0.25 dividend. 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 2.02%. Cracker Barrel Old Country Store's payout ratio is currently 55.25%.

Institutional Trading of Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP raised its stake in Cracker Barrel Old Country Store by 151.9% during the 4th quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator's stock valued at $40,544,000 after purchasing an additional 462,542 shares during the period. Cibc World Market Inc. purchased a new stake in Cracker Barrel Old Country Store during the 4th quarter valued at approximately $11,711,000. Charles Schwab Investment Management Inc. raised its position in shares of Cracker Barrel Old Country Store by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator's stock valued at $48,752,000 after buying an additional 111,892 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter worth $4,498,000. Finally, Raymond James Financial Inc. purchased a new position in Cracker Barrel Old Country Store during the fourth quarter valued at $4,597,000. 96.01% of the stock is currently owned by 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.