Brokerages Set Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Price Target at $35.25

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has earned an average rating of “Reduce” from the twelve research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.25.

CBRL has been the subject of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Tuesday. Truist Financial lowered their price objective on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Wells Fargo & Company dropped their target price on 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. Argus cut their target price on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Finally, UBS Group reduced their price target on shares of 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.

Cracker Barrel Old Country Store Stock Down 0.9%

Shares of NASDAQ:CBRL opened at $32.48 on Monday. The stock has a market capitalization of $725.28 million, a price-to-earnings ratio of 43.31 and a beta of 1.27. Cracker Barrel Old Country Store has a 1-year low of $24.85 and a 1-year high of $71.93. The company’s fifty day moving average is $28.38 and its two-hundred day moving average is $42.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 0.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. The business had revenue of $797.19 million during 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%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. Equities analysts anticipate that Cracker Barrel Old Country Store will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Friday, January 16th will be given a $0.25 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.00 annualized dividend and a yield of 3.1%. Cracker Barrel Old Country Store’s dividend payout ratio is 133.33%.

Insider Activity at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp sold 42,400 shares of Cracker Barrel Old Country Store stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the sale, the insider owned 2,240,200 shares of the company’s stock, valued at approximately $57,259,512. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 381,500 shares of company stock valued at $10,258,409 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBRL. Alliancebernstein L.P. raised 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 valued at $74,655,000 after acquiring an additional 1,117,617 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 13,737.1% during the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after purchasing an additional 923,409 shares during the period. GMT Capital Corp raised its stake in shares of Cracker Barrel Old Country Store by 39.7% during the second quarter. GMT Capital Corp now owns 2,833,700 shares of the restaurant operator’s stock valued at $173,082,000 after purchasing an additional 805,100 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Cracker Barrel Old Country Store during the second quarter valued at about $43,930,000. Finally, Marshall Wace LLP lifted its holdings in Cracker Barrel Old Country Store by 375.1% in the second quarter. Marshall Wace LLP now owns 254,865 shares of the restaurant operator’s stock worth $15,567,000 after purchasing an additional 201,217 shares during the period. 96.01% of the stock is owned by institutional investors.

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.