Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Receives Consensus Recommendation of “Reduce” from Analysts

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has been given an average rating of “Reduce” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $62.14.

A number of research analysts recently weighed in on CBRL shares. Loop Capital dropped their price objective on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, May 20th. StockNews.com cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. Truist Financial reduced their price objective 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 note on Friday, May 31st. Piper Sandler lowered their target price on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, March 4th. Finally, Citigroup reduced their price target on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a research report on Friday, May 31st.

Cracker Barrel Old Country Store Stock Down 1.2 %

Shares of NASDAQ:CBRL opened at $44.47 on Friday. Cracker Barrel Old Country Store has a fifty-two week low of $42.88 and a fifty-two week high of $98.60. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $52.08 and its 200-day simple moving average is $65.59. The company has a market cap of $987.23 million, a price-to-earnings ratio of 16.41, a PEG ratio of 0.96 and a beta of 1.46.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Thursday, May 30th. The restaurant operator reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.32. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The firm had revenue of $817.14 million during the quarter, compared to the consensus estimate of $820.61 million. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts predict that Cracker Barrel Old Country Store will post 3.88 earnings per share for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 19th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, July 19th. Cracker Barrel Old Country Store’s payout ratio is currently 191.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in Cracker Barrel Old Country Store in the first quarter valued at $301,000. Verity Asset Management Inc. purchased a new position in Cracker Barrel Old Country Store during the first quarter worth approximately $322,000. Comerica Bank boosted its holdings in shares of Cracker Barrel Old Country Store by 49.6% in the 1st quarter. Comerica Bank now owns 12,850 shares of the restaurant operator’s stock valued at $935,000 after purchasing an additional 4,263 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Cracker Barrel Old Country Store by 0.4% during the 1st quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator’s stock valued at $148,107,000 after buying an additional 7,587 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Cracker Barrel Old Country Store by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,028 shares of the restaurant operator’s stock worth $948,000 after buying an additional 805 shares during the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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.