Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Stock Has Average Price Target of $50.86

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) have earned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.86.

A number of equities analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. Bank of America restated an “underperform” rating and set a $48.00 target price on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 24th. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the stock a “sell” rating in a research report on Friday, September 25th. Wells Fargo & Company raised their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $51.00 price target on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd.

Cracker Barrel Old Country Store Stock Performance

Cracker Barrel Old Country Store stock opened at $67.66 on Wednesday. The stock has a fifty day moving average price of $55.50 and a two-hundred day moving average price of $46.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.58 and a quick ratio of 0.24. Cracker Barrel Old Country Store has a 52-week low of $24.85 and a 52-week high of $70.28. The firm has a market capitalization of $1.51 billion, a P/E ratio of 48.33, a P/E/G ratio of 1.61 and a beta of 1.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.82. Cracker Barrel Old Country Store had a net margin of 0.95% and a return on equity of 4.01%. The company had revenue of $849.34 million during the quarter, compared to analyst estimates of $834.57 million. During the same quarter last year, the business posted $0.74 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Cracker Barrel Old Country Store will post 1.56 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 16th. This represents a $1.00 annualized dividend and a yield of 1.5%. Cracker Barrel Old Country Store’s payout ratio is currently 71.43%.

Insider Transactions at Cracker Barrel Old Country Store

In related news, SVP Donna Roberts sold 3,500 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $52.08, for a total transaction of $182,280.00. Following the completion of the sale, the senior vice president directly owned 43,702 shares of the company’s stock, valued at approximately $2,276,000.16. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at $11,152,000. Meros Investment Management LP bought a new stake in Cracker Barrel Old Country Store in the 2nd quarter valued at $8,492,076. Bank of New York Mellon Corp bought a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at about $7,444,000. Empowered Funds LLC acquired a new position in Cracker Barrel Old Country Store in the 2nd quarter valued at about $4,854,000. Finally, Royal Bank of Canada lifted its holdings in Cracker Barrel Old Country Store by 55.0% during the 1st quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator’s stock worth $4,312,000 after purchasing an additional 54,431 shares during the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates full-service restaurants combined with retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve homestyle, Southern-inspired food, including breakfast, lunch and dinner offerings, along with beverages and seasonal menu items.

The company’s adjoining retail stores sell a range of merchandise, including home décor, apparel, gifts, toys, food products and other items associated with country living and traditional American culture.