Cracker Barrel Old Country Store Target of Unusually High Options Trading (NASDAQ:CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) saw some unusual options trading on Thursday. Stock investors purchased 3,385 call options on the stock. This represents an increase of 1,398% compared to the typical daily volume of 226 call options.

In related news, major shareholder Sardar Biglari sold 29,704 shares of Cracker Barrel Old Country Store stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $171.95, for a total value of $5,107,602.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Chemical Bank grew its holdings in shares of Cracker Barrel Old Country Store by 4.1% during the 4th quarter. Chemical Bank now owns 1,528 shares of the restaurant operator’s stock valued at $244,000 after purchasing an additional 60 shares during the last quarter. Comerica Bank boosted its position in Cracker Barrel Old Country Store by 0.6% during the 4th quarter. Comerica Bank now owns 12,250 shares of the restaurant operator’s stock valued at $2,070,000 after buying an additional 71 shares during the period. First Republic Investment Management Inc. boosted its position in Cracker Barrel Old Country Store by 6.4% during the 1st quarter. First Republic Investment Management Inc. now owns 1,395 shares of the restaurant operator’s stock valued at $225,000 after buying an additional 84 shares during the period. Signaturefd LLC boosted its position in Cracker Barrel Old Country Store by 46.4% during the 1st quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 98 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Cracker Barrel Old Country Store by 2.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,043 shares of the restaurant operator’s stock valued at $814,000 after buying an additional 107 shares during the period. 85.86% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CBRL opened at $165.54 on Friday. Cracker Barrel Old Country Store has a one year low of $141.63 and a one year high of $185.00. The stock has a market cap of $4.01 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.86 and a beta of 0.50. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.64.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, February 26th. The restaurant operator reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.46 by $0.06. The firm had revenue of $811.70 million for the quarter, compared to analysts’ expectations of $810.49 million. Cracker Barrel Old Country Store had a net margin of 7.09% and a return on equity of 34.20%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.73 earnings per share. On average, equities analysts predict that Cracker Barrel Old Country Store will post 8.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Friday, April 19th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, April 17th. Cracker Barrel Old Country Store’s payout ratio is 56.37%.

CBRL has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. BidaskClub downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Co lowered their price target on shares of Cracker Barrel Old Country Store from $157.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, February 27th. Argus reaffirmed a “buy” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, February 27th. Finally, Maxim Group reissued a “hold” rating and issued a $180.00 price objective (up from $175.00) on shares of Cracker Barrel Old Country Store in a research note on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $169.82.

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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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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