Truist Financial Cuts Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $68.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective lowered by Truist Financial from $72.00 to $68.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the restaurant operator’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group cut their price target on Cracker Barrel Old Country Store from $82.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Citigroup upped their price target on Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the stock a sell rating in a research note on Wednesday, February 28th. Finally, Piper Sandler cut their price target on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a neutral rating for the company in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store presently has an average rating of Hold and an average target price of $76.57.

Cracker Barrel Old Country Store Price Performance

CBRL stock opened at $58.70 on Wednesday. The company has a market capitalization of $1.30 billion, a P/E ratio of 15.65, a PEG ratio of 3.96 and a beta of 1.45. Cracker Barrel Old Country Store has a twelve month low of $54.87 and a twelve month high of $116.05. The business has a 50 day simple moving average of $67.57 and a 200-day simple moving average of $71.35. The company has a current ratio of 0.58, a quick ratio of 0.21 and a debt-to-equity ratio of 0.98.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data 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 business had revenue of $935.40 million during the quarter, compared to the consensus estimate of $917.83 million. During the same period in the prior year, the company earned $1.48 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Cracker Barrel Old Country Store will post 4.61 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 12th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 8.86%. The ex-dividend date of this dividend is Thursday, April 11th. Cracker Barrel Old Country Store’s payout ratio is 138.67%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CBRL. Norges Bank purchased a new position in Cracker Barrel Old Country Store in the fourth quarter worth $18,944,000. Two Sigma Investments LP increased its position in shares of Cracker Barrel Old Country Store by 5,734.0% in 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 in the last quarter. Millennium Management LLC increased its position in shares of Cracker Barrel Old Country Store by 1,415.0% in 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 in the last quarter. Marshall Wace LLP increased its position in shares of Cracker Barrel Old Country Store by 266.4% in 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Cracker Barrel Old Country Store by 87.0% in 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 in the last quarter. 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 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.