Cracker Barrel Old Country Store (NASDAQ:CBRL) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a sell rating to a strong sell rating in a report released on Sunday morning.

Several other research firms have also commented on CBRL. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Thursday, March 5th. UBS Group increased their target price on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Freedom Capital raised shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research report on Monday, April 6th. Truist Financial boosted their price target on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Citigroup upped their price objective on Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.75.

Cracker Barrel Old Country Store Price Performance

CBRL stock opened at $30.20 on Friday. The business’s fifty day moving average price is $29.73 and its 200 day moving average price is $30.86. Cracker Barrel Old Country Store has a 12-month low of $24.85 and a 12-month high of $71.93. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $675.00 million, a PE ratio of -167.77 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.35. The company had revenue of $874.82 million during the quarter, compared to analysts’ expectations of $862.89 million. Cracker Barrel Old Country Store had a positive return on equity of 4.25% and a negative net margin of 0.12%.Cracker Barrel Old Country Store’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. On average, sell-side analysts anticipate that Cracker Barrel Old Country Store will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Friday, April 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently -555.56%.

Institutional Trading of Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently made changes to their positions in CBRL. Alliancebernstein L.P. grew its stake in Cracker Barrel Old Country Store by 1,068.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock worth $74,655,000 after buying an additional 1,117,617 shares during the last quarter. Franklin Resources Inc. lifted its stake in Cracker Barrel Old Country Store by 13,737.1% in the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after buying an additional 923,409 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Cracker Barrel Old Country Store in the second quarter valued at approximately $43,930,000. Marshall Wace LLP acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at approximately $5,225,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Cracker Barrel Old Country Store by 66.7% in the third quarter. Allianz Asset Management GmbH now owns 456,278 shares of the restaurant operator’s stock valued at $20,104,000 after acquiring an additional 182,533 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

About Cracker Barrel Old Country Store

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.