Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Short Interest Down 11.9% in August

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,670,000 shares, a drop of 11.9% from the August 15th total of 3,030,000 shares. Approximately 12.3% of the company’s stock are short sold. Based on an average trading volume of 706,300 shares, the short-interest ratio is currently 3.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CBRL. Texas Permanent School Fund Corp raised its stake in Cracker Barrel Old Country Store by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 19,416 shares of the restaurant operator’s stock worth $1,412,000 after acquiring an additional 274 shares during the period. ProShare Advisors LLC grew its holdings in shares of Cracker Barrel Old Country Store by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock valued at $324,000 after purchasing an additional 306 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Cracker Barrel Old Country Store by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 115,605 shares of the restaurant operator’s stock worth $8,408,000 after purchasing an additional 381 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 200.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Finally, CWM LLC boosted its position in Cracker Barrel Old Country Store by 96.3% during the 2nd quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 419 shares during the period. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Stock Performance

CBRL traded down $0.78 during trading hours on Wednesday, hitting $41.56. 1,434,119 shares of the stock were exchanged, compared to its average volume of 749,660. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.63 and a quick ratio of 0.23. Cracker Barrel Old Country Store has a 12 month low of $34.88 and a 12 month high of $83.51. The stock has a 50-day simple moving average of $40.91 and a 200-day simple moving average of $50.41. The stock has a market cap of $922.72 million, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

Analysts Set New Price Targets

Several research firms recently commented on CBRL. StockNews.com cut Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Argus lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Benchmark upgraded shares of Cracker Barrel Old Country Store to a “hold” rating in a research note on Monday, June 3rd. Citigroup cut their price target 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. Finally, Truist Financial reduced their price objective on shares of Cracker Barrel Old Country Store from $46.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.29.

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.