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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has received a consensus recommendation of “Reduce” from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $35.25.

A number of research firms recently weighed in on CBRL. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, December 29th. UBS Group reduced their price objective on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Zacks Research raised shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Argus cut their price target on shares of Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 29th. Finally, Piper Sandler decreased 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 note on Wednesday, December 10th.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp sold 84,700 shares of Cracker Barrel Old Country Store stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $28.15, for a total transaction of $2,384,305.00. Following the transaction, the insider owned 2,749,000 shares in the company, valued at approximately $77,384,350. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 381,500 shares of company stock worth $10,258,409 in the last quarter. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its position in Cracker Barrel Old Country Store by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator’s stock valued at $1,214,000 after acquiring an additional 311 shares in the last quarter. Parvin Asset Management LLC increased its holdings in shares of Cracker Barrel Old Country Store by 4.4% in the second quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock valued at $507,000 after purchasing an additional 350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised 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 worth $349,000 after purchasing an additional 389 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Cracker Barrel Old Country Store by 16.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock worth $71,000 after buying an additional 400 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Cracker Barrel Old Country Store by 517.3% in the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Down 2.3%

Shares of NASDAQ:CBRL opened at $30.21 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 0.51. The stock has a market capitalization of $674.59 million, a price-to-earnings ratio of 40.28 and a beta of 1.27. 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 50 day moving average price of $28.42 and a 200 day moving average price of $42.18.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $797.19 million during the quarter, compared to the consensus estimate of $806.71 million. Cracker Barrel Old Country Store had a return on equity of 9.74% and a net margin of 0.49%.The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 133.33%.

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.