Cracker Barrel Old Country Store (NASDAQ:CBRL) Lifted 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 research note released on Friday morning.

A number of other brokerages have also recently weighed in on CBRL. Bank of America reduced their price objective on Cracker Barrel Old Country Store from $72.00 to $62.00 and set an underperform rating for the company in a research note on Thursday, May 16th. Citigroup reduced their price objective on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a sell rating on the stock in a research note on Friday, May 31st. Truist Financial dropped their target price on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a hold rating on the stock in a report on Friday, May 31st. Benchmark upgraded Cracker Barrel Old Country Store to a hold rating in a report on Monday, June 3rd. Finally, Piper Sandler lowered their price target on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a neutral rating for the company in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $62.14.

Cracker Barrel Old Country Store Price Performance

Cracker Barrel Old Country Store stock opened at $42.16 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. Cracker Barrel Old Country Store has a 52-week low of $40.31 and a 52-week high of $98.60. The company has a market cap of $936.04 million, a price-to-earnings ratio of 15.56, a PEG ratio of 0.90 and a beta of 1.46. The firm’s fifty day moving average is $50.43 and its 200 day moving average is $64.39.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Thursday, May 30th. The restaurant operator reported $0.88 EPS for the quarter, beating the consensus estimate 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 business had revenue of $817.14 million during the quarter, compared to analyst estimates of $820.61 million. During the same period in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts forecast that Cracker Barrel Old Country Store will post 3.88 EPS for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, July 19th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 36.90%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently modified their holdings of CBRL. GAMMA Investing LLC acquired a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $32,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth about $73,000. Security National Bank purchased a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth about $81,000. Newbridge Financial Services Group Inc. increased its position 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 purchasing an additional 575 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position 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 purchasing an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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.