Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Receives Average Rating of “Reduce” from Analysts

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) have been assigned an average rating of “Reduce” from the twelve research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $35.25.

Several equities research analysts have recently weighed in on CBRL shares. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Tuesday. UBS Group lowered their price objective on Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Bank of America reduced their target price 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. Piper Sandler lowered their target price on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company reduced their price target 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 report on Wednesday, December 10th.

Insider Activity at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp sold 84,700 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $28.15, for a total transaction of $2,384,305.00. Following the sale, the insider directly owned 2,749,000 shares in the company, valued at approximately $77,384,350. This represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 381,500 shares of company stock worth $10,258,409 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its position in Cracker Barrel Old Country Store by 517.3% in the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 419 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Cracker Barrel Old Country Store during the second quarter worth about $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter worth about $26,000. Byrne Asset Management LLC bought a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at about $51,000. Finally, State of Wyoming bought a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at about $84,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Down 2.3%

Shares of CBRL opened at $30.21 on Monday. Cracker Barrel Old Country Store has a one year low of $24.85 and a one year high of $71.93. The stock has a 50-day moving average price of $28.42 and a 200 day moving average price of $42.52. 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 capitalization of $674.59 million, a P/E ratio of 40.28 and a beta of 1.27.

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

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 133.33%.

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.