Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a sell rating to a hold rating in a research note published on Friday.

According to Zacks, “Cracker Barrel shares have underperformed its industry in the past year. Current-quarter and year estimates have also been revised downward over the last 90 days. The company reported lower-than-expected revenues in 10 of the trailing 13 quarters. Although comps at both restaurants and retail stores have improved in the last reported quarter, the overall sales environment still remains slightly challenging. Also, high labor costs, inflationary pressure and costs from sales building are expected to weigh on the company’s margins, going forward. Nevertheless, the company expects its enhanced focus on convenience, value and menu innovation to aid in fighting persistent challenges. Expansion of units, extensive marketing efforts, seasonal promotions, enhanced focus on retail business along with cost-saving initiatives should further drive growth.”

A number of other analysts have also weighed in on CBRL. BidaskClub upgraded Cracker Barrel Old Country Store from a sell rating to a hold rating in a report on Thursday. ValuEngine upgraded Cracker Barrel Old Country Store from a sell rating to a hold rating in a report on Saturday, June 16th. Telsey Advisory Group lowered their target price on Cracker Barrel Old Country Store from $175.00 to $165.00 and set a market perform rating for the company in a report on Monday, June 4th. Finally, Maxim Group upped their target price on Cracker Barrel Old Country Store from $160.00 to $170.00 and gave the stock a hold rating in a report on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $164.63.

Shares of NASDAQ:CBRL opened at $152.11 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $3.51 billion, a P/E ratio of 18.17, a PEG ratio of 2.02 and a beta of 0.58. Cracker Barrel Old Country Store has a 52-week low of $141.75 and a 52-week high of $179.12.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, May 22nd. The restaurant operator reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.08. The company had revenue of $721.40 million during the quarter, compared to analyst estimates of $720.05 million. Cracker Barrel Old Country Store had a return on equity of 36.57% and a net margin of 8.11%. Cracker Barrel Old Country Store’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.95 earnings per share. equities research analysts predict that Cracker Barrel Old Country Store will post 9.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 6th. Shareholders of record on Friday, July 13th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, July 12th. This represents a $5.00 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Cracker Barrel Old Country Store’s previous quarterly dividend of $1.20. Cracker Barrel Old Country Store’s dividend payout ratio is currently 59.74%.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 5.3% during the 2nd quarter. BlackRock Inc. now owns 2,513,796 shares of the restaurant operator’s stock valued at $392,679,000 after purchasing an additional 127,574 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 1,039.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 692,385 shares of the restaurant operator’s stock valued at $7,630,000 after purchasing an additional 631,635 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cracker Barrel Old Country Store by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 452,109 shares of the restaurant operator’s stock valued at $70,626,000 after purchasing an additional 3,516 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Cracker Barrel Old Country Store by 30.1% during the 2nd quarter. Morgan Stanley now owns 319,596 shares of the restaurant operator’s stock valued at $49,923,000 after purchasing an additional 74,028 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 6.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 273,583 shares of the restaurant operator’s stock valued at $42,737,000 after purchasing an additional 17,412 shares during the last quarter. Institutional investors own 87.59% of the company’s stock.

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. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner. The company's gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparels, music CDs, cookware, and various other gift items, as well as candies, preserves, pies, cornbread mixes, coffee, syrups, pancake mixes, and other food items.

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