Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Given Average Rating of “Reduce” by Brokerages

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) have been given an average recommendation of “Reduce” by the nine research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $53.57.

A number of equities analysts recently commented on CBRL shares. Argus downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Bank of America upped their price target on Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the stock an “underperform” rating in a research report on Friday, September 20th. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. 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 report on Friday, September 20th. Finally, UBS Group reduced their price target on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, September 19th.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ:CBRL opened at $46.98 on Friday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. Cracker Barrel Old Country Store has a 52 week low of $34.88 and a 52 week high of $83.51. The company has a quick ratio of 0.21, a current ratio of 0.61 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average of $43.46 and a 200 day moving average of $45.89.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). The business had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a return on equity of 18.65% and a net margin of 1.18%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.79 EPS. On average, sell-side analysts predict that Cracker Barrel Old Country Store will post 2.94 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Friday, October 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, October 18th. Cracker Barrel Old Country Store’s payout ratio is 54.35%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp boosted its holdings in Cracker Barrel Old Country Store by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 19,416 shares of the restaurant operator’s stock valued at $1,412,000 after purchasing an additional 274 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Cracker Barrel Old Country Store by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock worth $324,000 after acquiring an additional 306 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 acquiring an additional 381 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake 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 worth $25,000 after acquiring an additional 400 shares in the last quarter. Finally, CWM LLC raised its position in shares of Cracker Barrel Old Country Store by 96.3% in the second quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 419 shares during the last quarter. 96.01% of the stock is 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.