Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Declares $0.25 Quarterly Dividend

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) announced a quarterly dividend on Wednesday, September 23rd. Stockholders of record on Friday, October 16th will be given a dividend of 0.25 per share by the restaurant operator on Thursday, November 12th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, October 16th.

Cracker Barrel Old Country Store has decreased its dividend by an average of 0.2%per year over the last three years. Cracker Barrel Old Country Store has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Cracker Barrel Old Country Store to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 78.7%.

Cracker Barrel Old Country Store Trading Up 4.5%

CBRL opened at $47.52 on Thursday. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The stock’s fifty day moving average is $53.83 and its two-hundred day moving average is $41.96. The company has a market capitalization of $1.06 billion, a P/E ratio of 40.97 and a beta of 1.19. Cracker Barrel Old Country Store has a 52 week low of $24.85 and a 52 week high of $60.26.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.82. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The firm had revenue of $849.34 million for the quarter, compared to the consensus estimate of $834.57 million. During the same quarter in the previous year, the firm earned $0.74 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts forecast that Cracker Barrel Old Country Store will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. Zacks Research raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $51.00 price target on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Finally, UBS Group lifted their price target on Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.57.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a chain of full-service restaurants and retail stores under the Cracker Barrel brand. Its restaurants offer Southern-inspired, homestyle meals, including breakfast served throughout the day, lunch, dinner and seasonal menu items.

The company’s adjoining country stores sell a variety of merchandise, including home décor, apparel, gifts, toys, games, candy, music and food products. Cracker Barrel’s locations are designed around a nostalgic country-store and roadside dining experience, with many restaurants featuring front porches and rocking chairs.

Founded in 1969 by Dan Evins, the company opened its first location in Lebanon, Tennessee.