Cracker Barrel Old Country Store (NASDAQ:CBRL) Hits New 12-Month Low at $38.51

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $38.51 and last traded at $38.60, with a volume of 459275 shares. The stock had previously closed at $40.31.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup cut their target price on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating on the stock in a research report on Friday, May 31st. Loop Capital decreased their price objective on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating for the company in a report on Monday, May 20th. Truist Financial reduced their price target on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Benchmark upgraded Cracker Barrel Old Country Store to a “hold” rating in a research report on Monday, June 3rd. Finally, Bank of America cut their price objective on Cracker Barrel Old Country Store from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.14.

Cracker Barrel Old Country Store Stock Down 2.9 %

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 has a 50 day moving average of $48.02 and a 200 day moving average of $62.71. The firm has a market cap of $868.69 million, a price-to-earnings ratio of 14.56, a PEG ratio of 0.84 and a beta of 1.43.

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

Cracker Barrel Old Country Store Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors 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 dividend yield of 2.56%. The ex-dividend date is Friday, July 19th. Cracker Barrel Old Country Store’s payout ratio is currently 191.88%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Cracker Barrel Old Country Store in the fourth quarter worth $10,727,000. Verition Fund Management LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 423.9% in the 4th quarter. Verition Fund Management LLC now owns 81,837 shares of the restaurant operator’s stock worth $6,308,000 after buying an additional 66,215 shares during the last quarter. Armistice Capital LLC bought a new position in Cracker Barrel Old Country Store during the fourth quarter valued at about $3,854,000. Miller Howard Investments Inc. NY purchased a new stake in Cracker Barrel Old Country Store during the first quarter worth about $2,909,000. Finally, International Assets Investment Management LLC purchased a new position in Cracker Barrel Old Country Store in the fourth quarter valued at about $2,935,000. Hedge funds and other institutional investors 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.