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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has earned a consensus recommendation of “Reduce” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $37.75.

A number of equities analysts have weighed in on CBRL shares. Citigroup boosted 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 note on Thursday, March 5th. Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Wells Fargo & Company boosted their price target on shares of Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Bank of America dropped their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating for the company in a report on Friday, December 19th. Finally, Piper Sandler cut their price objective 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 report on Wednesday, December 10th.

Cracker Barrel Old Country Store Trading Down 1.3%

CBRL opened at $27.64 on Tuesday. The firm has a market capitalization of $617.75 million, a price-to-earnings ratio of -153.55 and a beta of 1.24. The company’s 50 day simple moving average is $31.29 and its two-hundred day simple moving average is $34.40. Cracker Barrel Old Country Store has a 1-year low of $24.85 and a 1-year high of $71.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.49 and a quick ratio of 0.18.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.35. Cracker Barrel Old Country Store had a positive return on equity of 4.25% and a negative net margin of 0.12%.The business had revenue of $874.82 million during the quarter, compared to analyst estimates of $862.89 million. During the same period in the prior year, the business earned $1.38 earnings per share. The business’s revenue was down 7.9% compared to the same quarter last year. Analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Friday, April 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. Cracker Barrel Old Country Store’s dividend payout ratio is currently -555.56%.

Insiders Place Their Bets

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the completion of the transaction, the insider owned 2,240,200 shares of the company’s stock, valued at approximately $57,259,512. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 127,200 shares of company stock worth $3,305,504 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently modified their holdings of the company. Parvin Asset Management LLC lifted its stake in Cracker Barrel Old Country Store by 4.4% during the 2nd quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock worth $507,000 after acquiring an additional 350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Cracker Barrel Old Country Store by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock valued at $349,000 after acquiring an additional 389 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in Cracker Barrel Old Country Store by 16.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $71,000 after acquiring an additional 400 shares in the last quarter. Assetmark Inc. increased its stake in Cracker Barrel Old Country Store by 517.3% during the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 419 shares during the period. Finally, Arizona State Retirement System increased its stake in Cracker Barrel Old Country Store by 7.2% during the third quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock worth $276,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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.