Cracker Barrel Old Country Store (NASDAQ:CBRL) Lifted to Hold at Benchmark

Benchmark upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

A number of other research analysts also recently commented on CBRL. Bank of America dropped their price target on Cracker Barrel Old Country Store from $72.00 to $62.00 and set an underperform rating for the company in a research note on Thursday, May 16th. Piper Sandler lowered their price objective 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. UBS Group cut their price target on Cracker Barrel Old Country Store from $82.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, February 28th. Truist Financial cut their target price on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a hold rating on the stock in a report on Friday, May 31st. Finally, CL King lowered Cracker Barrel Old Country Store from a buy rating to a neutral rating and set a $90.00 price target for the company. in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has a consensus rating of Hold and a consensus target price of $62.14.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ:CBRL opened at $51.80 on Monday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 1.06 and a beta of 1.46. The firm’s 50 day simple moving average is $57.47 and its 200 day simple moving average is $68.11. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.63 and a quick ratio of 0.23. Cracker Barrel Old Country Store has a fifty-two week low of $43.38 and a fifty-two week high of $98.60.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. The company had revenue of $817.14 million during the quarter, compared to analysts’ expectations of $820.61 million. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. As a group, sell-side analysts forecast that Cracker Barrel Old Country Store will post 3.93 earnings per share for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, July 19th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 191.88%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CBRL. Pathway Financial Advisers LLC purchased a new stake in Cracker Barrel Old Country Store in the first quarter worth about $301,000. Verity Asset Management Inc. bought a new position in Cracker Barrel Old Country Store during the first quarter valued at approximately $322,000. Comerica Bank boosted its stake in Cracker Barrel Old Country Store by 49.6% during the first quarter. Comerica Bank now owns 12,850 shares of the restaurant operator’s stock valued at $935,000 after buying an additional 4,263 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Cracker Barrel Old Country Store by 0.4% in the 1st quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator’s stock valued at $148,107,000 after purchasing an additional 7,587 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cracker Barrel Old Country Store by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,028 shares of the restaurant operator’s stock valued at $948,000 after purchasing an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 96.01% 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. 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.