Cracker Barrel Old Country Store (NASDAQ:CBRL) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a sell rating to a hold rating in a report released on Friday.

A number of other research firms have also recently weighed in on CBRL. Citigroup lowered their price objective 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. CL King cut shares of Cracker Barrel Old Country Store from a buy rating to a neutral rating and set a $90.00 price objective for the company. in a research report on Friday, May 17th. Truist Financial lowered 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 report on Friday, May 31st. Piper Sandler lowered their price objective on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a neutral rating for the company in a research report on Monday, March 4th. Finally, Bank of America reduced their target price on shares of Cracker Barrel Old Country Store from $72.00 to $62.00 and set an underperform rating on the stock in a report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $62.14.

Cracker Barrel Old Country Store Stock Up 1.1 %

CBRL stock opened at $42.16 on Friday. The company has a market cap of $935.95 million, a price-to-earnings ratio of 15.56, a PEG ratio of 0.88 and a beta of 1.46. The company has a current ratio of 0.63, a quick ratio of 0.23 and a debt-to-equity ratio of 1.11. Cracker Barrel Old Country Store has a 12 month low of $40.31 and a 12 month high of $98.60. The firm has a 50-day moving average of $50.43 and a two-hundred day moving average of $64.55.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.32. The business had revenue of $817.14 million during the quarter, compared to analysts’ expectations of $820.61 million. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. As a group, analysts forecast that Cracker Barrel Old Country Store will post 3.88 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Cracker Barrel Old Country Store’s payout ratio is 191.88%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $32,000. Future Financial Wealth Managment LLC acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter worth $73,000. Security National Bank acquired a new stake in Cracker Barrel Old Country Store during the 4th quarter worth $81,000. Newbridge Financial Services Group Inc. raised its stake in Cracker Barrel Old Country Store by 85.2% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,250 shares of the restaurant operator’s stock worth $91,000 after acquiring an additional 575 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Cracker Barrel Old Country Store by 106.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,531 shares of the restaurant operator’s stock worth $118,000 after acquiring an additional 788 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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.