Argus Lowers Cracker Barrel Old Country Store (NASDAQ:CBRL) to Hold

Argus downgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat reports.

Several other research firms have also recently commented on CBRL. Bank of America cut their target price on Cracker Barrel Old Country Store from $48.00 to $46.00 and set an underperform rating on the stock in a research note on Wednesday, July 17th. Citigroup reduced their target price on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a sell rating for the company in a report on Friday, May 31st. StockNews.com lowered shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a research note on Friday, July 19th. Loop Capital reduced their price objective on shares of Cracker Barrel Old Country Store from $72.00 to $50.00 and set a hold rating for the company in a research note on Monday, May 20th. Finally, Truist Financial decreased their price objective on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a hold rating for the company in a report on Friday, May 31st. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $59.86.

Cracker Barrel Old Country Store Stock Down 0.4 %

Shares of Cracker Barrel Old Country Store stock opened at $39.83 on Tuesday. Cracker Barrel Old Country Store has a 1 year low of $38.49 and a 1 year high of $90.71. The business has a 50-day moving average of $43.73 and a two-hundred day moving average of $57.58. The company has a market capitalization of $884.31 million, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43. 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 (NASDAQ:CBRL) last announced its earnings results on Thursday, May 30th. The restaurant operator reported $0.88 EPS for the quarter, topping the consensus estimate of $0.56 by $0.32. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The firm had revenue of $817.14 million for the quarter, compared to the consensus estimate of $820.61 million. During the same period last year, the company posted $1.21 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities analysts predict that Cracker Barrel Old Country Store will post 3.82 EPS for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, July 19th. Cracker Barrel Old Country Store’s payout ratio is 36.90%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of CBRL. Vanguard Group Inc. raised its stake in Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock worth $190,263,000 after purchasing an additional 6,804 shares in the last quarter. Earnest Partners LLC raised its position 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 buying an additional 7,587 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,922 shares of the restaurant operator’s stock worth $55,337,000 after acquiring an additional 25,354 shares during the period. Norges Bank acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter worth approximately $10,727,000. Finally, First Eagle Investment Management LLC increased its stake in Cracker Barrel Old Country Store by 17.4% in the fourth quarter. First Eagle Investment Management LLC now owns 125,856 shares of the restaurant operator’s stock valued at $9,701,000 after acquiring an additional 18,680 shares during the last quarter. 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.