Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Lowered to $46.00 at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target trimmed by Bank of America from $48.00 to $46.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an underperform rating on the restaurant operator’s stock.

Other research analysts have also issued reports about the company. CL King lowered Cracker Barrel Old Country Store from a buy rating to a neutral rating and set a $90.00 target price on the stock. in a research report on Friday, May 17th. Truist Financial lowered their price objective 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. StockNews.com raised Cracker Barrel Old Country Store from a sell rating to a hold rating in a report on Thursday, July 11th. Loop Capital lowered their price objective on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a hold rating on the stock in a report on Monday, May 20th. Finally, Benchmark raised Cracker Barrel Old Country Store to a hold rating in a report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $59.86.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL stock opened at $43.72 on Wednesday. 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 $38.49 and a fifty-two week high of $98.34. The stock’s 50-day moving average is $45.66 and its two-hundred day moving average is $60.51. The firm has a market cap of $970.58 million, a P/E ratio of 16.13, a PEG ratio of 0.95 and a beta of 1.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its 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. Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The company had revenue of $817.14 million for the quarter, compared to analyst estimates of $820.61 million. During the same period in the prior year, the firm posted $1.21 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. Analysts predict that Cracker Barrel Old Country Store will post 3.82 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, July 19th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 191.88%.

Institutional Trading of Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at approximately $32,000. CWM LLC lifted its position in shares of Cracker Barrel Old Country Store by 96.3% in the 2nd quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 419 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter worth approximately $73,000. Security National Bank bought a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter worth approximately $81,000. Finally, Bank & Trust Co bought a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter worth approximately $81,000. Institutional investors and hedge funds 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.