Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Receives $35.25 Average Price Target from Brokerages

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has earned an average recommendation of “Reduce” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $35.25.

A number of equities analysts have recently commented on the company. Bank of America cut their price objective on Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, December 22nd. Gordon Haskett upgraded shares of Cracker Barrel Old Country Store to a “strong sell” rating in a research note on Wednesday, December 10th. Wells Fargo & Company cut their target price on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 10th. Finally, Zacks Research raised shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th.

Cracker Barrel Old Country Store Price Performance

Cracker Barrel Old Country Store stock opened at $25.33 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 0.51. The company has a market cap of $565.62 million, a price-to-earnings ratio of 33.77 and a beta of 1.24. Cracker Barrel Old Country Store has a 1 year low of $25.20 and a 1 year high of $71.93. The firm has a 50 day moving average price of $29.45 and a 200 day moving average price of $46.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $797.19 million for the quarter, compared to analyst estimates of $806.71 million. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. Cracker Barrel Old Country Store’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. Sell-side analysts predict that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Friday, January 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 133.33%.

Insider Activity

In other news, major shareholder Gmt Capital Corp sold 42,400 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $26.03, for a total value of $1,103,672.00. Following the completion of the transaction, the insider directly owned 2,282,600 shares in the company, valued at approximately $59,416,078. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 339,100 shares of company stock worth $9,174,665 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CBRL. Assetmark Inc. increased its holdings in Cracker Barrel Old Country Store by 517.3% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 419 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Cracker Barrel Old Country Store during the second quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store in the third quarter worth $26,000. Byrne Asset Management LLC bought a new stake in shares of Cracker Barrel Old Country Store in the third quarter worth $51,000. Finally, Russell Investments Group Ltd. raised its holdings in Cracker Barrel Old Country Store by 360.2% in the first quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock valued at $46,000 after acquiring an additional 922 shares in the last quarter. 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 operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.