Bank of America Issues Positive Forecast for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target hoisted by Bank of America from $34.00 to $40.00 in a research report report published on Monday,MarketScreener reports.

CBRL has been the topic of a number of other research reports. Citigroup increased their target price on Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the company a “sell” rating in a report on Wednesday, June 10th. UBS Group upped their price objective on Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, June 10th. Argus increased their price objective on Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Saturday. Finally, BofA boosted their target price on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.88.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ:CBRL traded up $0.75 during trading on Monday, hitting $44.24. 151,118 shares of the stock were exchanged, compared to its average volume of 1,320,698. The company has a fifty day moving average price of $32.14 and a two-hundred day moving average price of $30.40. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The company has a market cap of $988.81 million, a PE ratio of 38.29 and a beta of 1.30. Cracker Barrel Old Country Store has a 12-month low of $24.85 and a 12-month high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.74. The company had revenue of $797.37 million for the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.Cracker Barrel Old Country Store’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. On average, analysts forecast that Cracker Barrel Old Country Store will post -1.26 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 17th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.3%. Cracker Barrel Old Country Store’s payout ratio is 86.21%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently made changes to their positions in CBRL. Alliancebernstein L.P. boosted its stake in Cracker Barrel Old Country Store by 19.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,459,983 shares of the restaurant operator’s stock worth $64,327,000 after buying an additional 237,741 shares during the last quarter. Franklin Resources Inc. boosted its position in Cracker Barrel Old Country Store by 13,737.1% during the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after purchasing an additional 923,409 shares during the period. State Street Corp boosted its position in shares of Cracker Barrel Old Country Store by 1.1% in the fourth quarter. State Street Corp now owns 872,995 shares of the restaurant operator’s stock worth $22,174,000 after buying an additional 9,332 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cracker Barrel Old Country Store by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 743,413 shares of the restaurant operator’s stock worth $32,756,000 after acquiring an additional 15,661 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at $43,930,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.