Bank of America Boosts Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $42.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target upped by Bank of America from $40.00 to $42.00 in a research report report published on Friday, Benzinga reports. Bank of America currently has an underperform rating on the restaurant operator’s stock.

Several other research analysts also recently weighed in on CBRL. Truist Financial upped their price target on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the stock a hold rating in a research note on Friday. Loop Capital cut their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a hold rating for the company in a research note on Friday. StockNews.com cut shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a research note on Thursday, September 5th. UBS Group cut their price objective on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a neutral rating for the company in a research report on Thursday. Finally, Benchmark upgraded Cracker Barrel Old Country Store to a hold rating in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $53.57.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL opened at $41.57 on Friday. 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 1 year low of $34.88 and a 1 year high of $83.51. The firm has a fifty day moving average price of $40.93 and a 200-day moving average price of $49.84. The stock has a market cap of $922.94 million, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The business had revenue of $894.39 million for the quarter, compared to the consensus estimate of $898.94 million. During the same period in the prior year, the business earned $1.79 earnings per share. Cracker Barrel Old Country Store’s revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Cracker Barrel Old Country Store will post 3.83 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Friday, October 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.00 annualized dividend and a yield of 2.41%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 36.90%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock worth $190,263,000 after purchasing an additional 6,804 shares during the period. Earnest Partners LLC lifted its position in Cracker Barrel Old Country Store by 0.4% in the first quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator’s stock worth $148,107,000 after buying an additional 7,587 shares during the last quarter. Marshall Wace LLP purchased a new position in Cracker Barrel Old Country Store during the second quarter worth $25,636,000. Norges Bank bought a new position in Cracker Barrel Old Country Store during the fourth quarter valued at $10,727,000. Finally, Principal Financial Group Inc. raised its stake in shares of Cracker Barrel Old Country Store by 0.3% in the first quarter. Principal Financial Group Inc. now owns 115,605 shares of the restaurant operator’s stock valued at $8,408,000 after acquiring an additional 381 shares during the period. 96.01% of the stock is currently owned by hedge funds and other 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.