Bank of America Raises Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $45.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective upped by Bank of America from $42.00 to $45.00 in a report published on Friday,Benzinga reports. They currently have an underperform rating on the restaurant operator’s stock.

Other analysts also recently issued reports about the stock. UBS Group cut their price target on shares of 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. 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. Loop Capital reduced their price target on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Truist Financial boosted their price target on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a report on Friday. Finally, StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.25.

Cracker Barrel Old Country Store Price Performance

CBRL opened at $48.42 on Friday. The company has a fifty day moving average price of $45.40 and a two-hundred day moving average price of $44.73. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.21 and a current ratio of 0.61. The firm has a market capitalization of $1.08 billion, a PE ratio of 26.75, a P/E/G ratio of 1.40 and a beta of 1.42. Cracker Barrel Old Country Store has a 52 week low of $34.88 and a 52 week high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced 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). Cracker Barrel Old Country Store had a return on equity of 18.58% and a net margin of 1.15%. The company had revenue of $894.39 million for the quarter, compared to analyst estimates of $898.94 million. During the same period last year, the firm earned $1.79 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Cracker Barrel Old Country Store will post 2.97 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, October 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, October 18th. Cracker Barrel Old Country Store’s payout ratio is presently 55.25%.

Institutional Trading of Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Cracker Barrel Old Country Store in the 2nd quarter valued at approximately $25,636,000. Charles Schwab Investment Management Inc. increased its stake in Cracker Barrel Old Country Store by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock valued at $48,752,000 after buying an additional 111,892 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Cracker Barrel Old Country Store during the 3rd quarter worth about $4,498,000. Verition Fund Management LLC lifted its position in Cracker Barrel Old Country Store by 96.0% during the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock worth $7,299,000 after buying an additional 78,816 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter worth about $2,526,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

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.