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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares were down 2.2% during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $72.00 to $68.00. Truist Financial currently has a hold rating on the stock. Cracker Barrel Old Country Store traded as low as $58.70 and last traded at $58.74. Approximately 49,935 shares changed hands during trading, a decline of 92% from the average daily volume of 647,416 shares. The stock had previously closed at $60.09.

Several other equities research analysts have also commented on the stock. Citigroup upped their price target on shares of Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the company a “sell” rating in a research report on Wednesday, February 28th. Piper Sandler reduced their price target on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, March 4th. Finally, UBS Group reduced their price target on shares of Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating for the company in a research report 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 stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has a consensus rating of “Hold” and an average target price of $76.57.

Institutional Trading of Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently bought and sold shares of CBRL. Norges Bank purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter worth $18,944,000. Two Sigma Investments LP increased its stake in shares of Cracker Barrel Old Country Store by 5,734.0% during the first quarter. Two Sigma Investments LP now owns 180,853 shares of the restaurant operator’s stock valued at $20,545,000 after buying an additional 177,753 shares during the period. Millennium Management LLC increased its stake in shares of Cracker Barrel Old Country Store by 1,415.0% during the second quarter. Millennium Management LLC now owns 144,440 shares of the restaurant operator’s stock valued at $12,059,000 after buying an additional 134,906 shares during the period. Marshall Wace LLP increased its stake in shares of Cracker Barrel Old Country Store by 266.4% during the fourth quarter. Marshall Wace LLP now owns 174,250 shares of the restaurant operator’s stock valued at $16,508,000 after buying an additional 126,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Cracker Barrel Old Country Store by 87.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 248,548 shares of the restaurant operator’s stock valued at $23,547,000 after buying an additional 115,665 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

The stock has a market cap of $1.25 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 3.96 and a beta of 1.45. 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 firm has a 50 day moving average price of $67.97 and a 200 day moving average price of $71.40.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. The firm had revenue of $935.40 million for the quarter, compared to analyst estimates of $917.83 million. Cracker Barrel Old Country Store had a return on equity of 23.13% and a net margin of 2.43%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 earnings per share. As a group, research analysts forecast that Cracker Barrel Old Country Store, Inc. will post 4.61 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 12th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.20 annualized dividend and a yield of 9.22%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 138.67%.

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.