Cracker Barrel Old Country Store (NASDAQ:CBRL) Hits New 1-Year Low – What’s Next?

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) hit a new 52-week low during trading on Thursday . The company traded as low as $31.53 and last traded at $31.3260, with a volume of 825800 shares changing hands. The stock had previously closed at $32.95.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CBRL. Wall Street Zen cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a report on Saturday, September 20th. Bank of America lowered their price target on Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating for the company in a research report on Thursday, September 18th. Wells Fargo & Company initiated coverage on Cracker Barrel Old Country Store in a research report on Friday, October 17th. They issued an “equal weight” rating and a $42.00 price target for the company. Zacks Research lowered Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th. Finally, Truist Financial set a $58.00 target price on Cracker Barrel Old Country Store in a research report on Thursday, September 18th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of “Reduce” and an average target price of $50.88.

Cracker Barrel Old Country Store Stock Down 5.6%

The stock has a market cap of $692.97 million, a PE ratio of 15.03 and a beta of 1.32. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.21 and a current ratio of 0.50. The company’s 50-day moving average price is $43.93 and its 200 day moving average price is $52.77.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share (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%. As a group, analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 17th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 48.31%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its position in shares of Cracker Barrel Old Country Store by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator’s stock valued at $1,214,000 after acquiring an additional 311 shares during the last quarter. Parvin Asset Management LLC lifted its position in Cracker Barrel Old Country Store by 4.4% in the second quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock worth $507,000 after buying an additional 350 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Cracker Barrel Old Country Store by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock worth $349,000 after buying an additional 389 shares during the last quarter. Assetmark Inc. lifted its position in Cracker Barrel Old Country Store by 517.3% in the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 419 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Cracker Barrel Old Country Store by 7.2% in the third quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock worth $276,000 after buying an additional 419 shares during the last quarter. 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.