Cracker Barrel Old Country Store (NASDAQ:CBRL) Hits New 12-Month Low – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $28.60 and last traded at $29.31, with a volume of 1437773 shares. The stock had previously closed at $29.09.

Analysts Set New Price Targets

CBRL has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Cracker Barrel Old Country Store from $56.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Argus cut their price target on shares of Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Zacks Research cut Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research note on Friday, September 19th. Wells Fargo & Company assumed coverage on Cracker Barrel Old Country Store in a report on Friday, October 17th. They issued an “equal weight” rating and a $42.00 price objective for the company. Finally, Truist Financial set a $58.00 price target on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $50.88.

Cracker Barrel Old Country Store Stock Performance

The company has a market cap of $669.12 million, a PE ratio of 14.52 and a beta of 1.32. The business has a fifty day moving average of $41.66 and a 200-day moving average of $52.45. The company has a current ratio of 0.50, a quick ratio of 0.21 and a debt-to-equity ratio of 0.73.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 EPS for the quarter. The company had revenue of $845.09 million during the quarter. Cracker Barrel Old Country Store had a return on equity of 15.48% and a net margin of 1.33%. Equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 17th. 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 48.31%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GMT Capital Corp purchased a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $78,750,000. Allianz Asset Management GmbH increased its position in Cracker Barrel Old Country Store by 113.5% during the second quarter. Allianz Asset Management GmbH now owns 273,745 shares of the restaurant operator’s stock valued at $16,720,000 after acquiring an additional 145,511 shares during the last quarter. Jump Financial LLC bought a new position in Cracker Barrel Old Country Store in the first quarter valued at about $389,000. Trexquant Investment LP purchased a new position in Cracker Barrel Old Country Store in the first quarter worth about $4,795,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at about $342,000. 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.