Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 2.2%

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price dropped 2.2% during trading on Wednesday . The company traded as low as $58.70 and last traded at $58.74. Approximately 49,935 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 647,416 shares. The stock had previously closed at $60.09.

Analysts Set New Price Targets

CBRL has been the topic of a number of analyst reports. Piper Sandler decreased their price target on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, March 4th. Truist Financial reduced their target price on Cracker Barrel Old Country Store from $75.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, February 28th. Citigroup boosted their target price on Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the company a “sell” rating in a research note on Wednesday, February 28th. Finally, UBS Group reduced their target price on Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.14.

Cracker Barrel Old Country Store Stock Down 5.3 %

The company has a quick ratio of 0.21, a current ratio of 0.58 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.26 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 4.31 and a beta of 1.45. The company has a 50-day moving average of $68.90 and a two-hundred day moving average of $71.61.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.08. Cracker Barrel Old Country Store had a return on equity of 23.13% and a net margin of 2.43%. The company had revenue of $935.40 million for the quarter, compared to analyst estimates of $917.83 million. During the same period in the previous year, the company posted $1.48 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 4.62 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 12th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.20 annualized dividend and a dividend yield of 9.13%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 138.67%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Cracker Barrel Old Country Store by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,622,873 shares of the restaurant operator’s stock worth $176,257,000 after acquiring an additional 12,128 shares in the last quarter. BlackRock Inc. boosted its holdings in Cracker Barrel Old Country Store by 0.8% in the first quarter. BlackRock Inc. now owns 2,549,306 shares of the restaurant operator’s stock worth $302,682,000 after acquiring an additional 21,310 shares in the last quarter. Earnest Partners LLC boosted its holdings in Cracker Barrel Old Country Store by 1.9% in the third quarter. Earnest Partners LLC now owns 1,920,469 shares of the restaurant operator’s stock worth $129,056,000 after acquiring an additional 35,042 shares in the last quarter. State Street Corp boosted its holdings in Cracker Barrel Old Country Store by 13.0% in the first quarter. State Street Corp now owns 848,891 shares of the restaurant operator’s stock worth $96,434,000 after acquiring an additional 97,728 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Cracker Barrel Old Country Store by 7.3% in the first quarter. Bank of America Corp DE now owns 752,989 shares of the restaurant operator’s stock worth $85,540,000 after acquiring an additional 50,927 shares in the last quarter. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.