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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) saw a significant drop in short interest in August. As of August 15th, there was short interest totalling 3,030,000 shares, a drop of 6.2% from the July 31st total of 3,230,000 shares. Based on an average daily trading volume, of 752,100 shares, the days-to-cover ratio is currently 4.0 days. Approximately 14.0% of the shares of the company are sold short.

Institutional Trading of Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in Cracker Barrel Old Country Store during the fourth quarter valued at about $32,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Cracker Barrel Old Country Store by 200.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 400 shares in the last quarter. CWM LLC lifted its position in Cracker Barrel Old Country Store by 96.3% in the 2nd quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock worth $36,000 after buying an additional 419 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Cracker Barrel Old Country Store in the first quarter worth approximately $73,000. Finally, Security National Bank bought a new position in Cracker Barrel Old Country Store during the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Analyst Upgrades and Downgrades

CBRL has been the topic of several research reports. Loop Capital decreased their price target on shares of Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Citigroup lowered their target price on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating on the stock in a report on Friday, May 31st. Bank of America dropped their target price on shares of Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Argus cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial decreased their price target on shares of Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus target price of $59.86.

Cracker Barrel Old Country Store Stock Down 2.2 %

Shares of Cracker Barrel Old Country Store stock opened at $38.69 on Wednesday. The stock’s 50-day moving average is $41.36 and its 200 day moving average is $52.63. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.63 and a quick ratio of 0.23. The firm has a market cap of $859.00 million, a price-to-earnings ratio of 14.28, a PEG ratio of 1.03 and a beta of 1.43. Cracker Barrel Old Country Store has a one year low of $37.21 and a one year high of $83.51.

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.