Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 2.2% on Analyst Downgrade

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) dropped 2.2% on Wednesday after Truist Financial lowered their price target on the stock from $72.00 to $68.00. Truist Financial currently has a hold rating on the stock. Cracker Barrel Old Country Store traded as low as $58.70 and last traded at $58.74. Approximately 49,935 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 647,416 shares. The stock had previously closed at $60.09.

Other research analysts have also recently issued reports about the company. Piper Sandler reduced their price objective on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, March 4th. Citigroup upped their price objective on Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the stock a “sell” rating in a research report on Wednesday, February 28th. Finally, UBS Group reduced their price objective on Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.57.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CBRL. Norges Bank bought a new position in shares of Cracker Barrel Old Country Store in the 4th quarter worth about $18,944,000. Two Sigma Investments LP grew its stake in shares of Cracker Barrel Old Country Store by 5,734.0% in the 1st quarter. Two Sigma Investments LP now owns 180,853 shares of the restaurant operator’s stock valued at $20,545,000 after buying an additional 177,753 shares during the period. Millennium Management LLC grew its stake in shares of Cracker Barrel Old Country Store by 1,415.0% in the 2nd quarter. Millennium Management LLC now owns 144,440 shares of the restaurant operator’s stock valued at $12,059,000 after buying an additional 134,906 shares during the period. Marshall Wace LLP grew its stake in shares of Cracker Barrel Old Country Store by 266.4% in the 4th quarter. Marshall Wace LLP now owns 174,250 shares of the restaurant operator’s stock valued at $16,508,000 after buying an additional 126,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Cracker Barrel Old Country Store by 87.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 248,548 shares of the restaurant operator’s stock valued at $23,547,000 after buying an additional 115,665 shares during the period. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.21 and a current ratio of 0.58. The company has a 50 day moving average price of $67.97 and a 200 day moving average price of $71.40. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 3.96 and a beta of 1.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. The company had revenue of $935.40 million during the quarter, compared to the consensus estimate of $917.83 million. Cracker Barrel Old Country Store had a return on equity of 23.13% and a net margin of 2.43%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business posted $1.48 EPS. Equities research analysts predict that Cracker Barrel Old Country Store, Inc. will post 4.61 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.20 dividend on an annualized basis and a yield of 9.22%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 138.67%.

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.