Brokerages Set Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) PT at $37.75

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has earned a consensus rating of “Reduce” from the twelve brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.75.

Several equities analysts recently commented on CBRL shares. UBS Group raised their target price on Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Wells Fargo & Company lifted their price target on shares of Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Piper Sandler cut their price target on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the company a “sell” rating in a report on Thursday, March 5th. Finally, Bank of America cut their price target on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating for the company in a report on Friday, December 19th.

Cracker Barrel Old Country Store Price Performance

Shares of CBRL stock opened at $29.65 on Friday. The stock has a 50 day moving average of $30.17 and a two-hundred day moving average of $31.82. The company has a market capitalization of $662.68 million, a P/E ratio of -164.71 and a beta of 1.24. Cracker Barrel Old Country Store has a 12 month low of $24.85 and a 12 month high of $71.93. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Wednesday, March 4th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.35. The company had revenue of $874.82 million during the quarter, compared to the consensus estimate of $862.89 million. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. As a group, equities analysts expect that Cracker Barrel Old Country Store will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Friday, April 10th will be given a $0.25 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.00 annualized dividend and a yield of 3.4%. Cracker Barrel Old Country Store’s payout ratio is presently -555.56%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Cracker Barrel Old Country Store by 107.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,246 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 645 shares during the last quarter. Hamilton Wealth LLC bought a new stake in shares of Cracker Barrel Old Country Store during the fourth quarter worth approximately $219,000. Invesco Ltd. raised its stake in shares of Cracker Barrel Old Country Store by 46.5% during the fourth quarter. Invesco Ltd. now owns 477,595 shares of the restaurant operator’s stock worth $12,131,000 after buying an additional 151,633 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Cracker Barrel Old Country Store during the fourth quarter worth approximately $2,659,000. Finally, SummitTX Capital L.P. raised its stake in shares of Cracker Barrel Old Country Store by 526.0% during the fourth quarter. SummitTX Capital L.P. now owns 107,626 shares of the restaurant operator’s stock worth $2,734,000 after buying an additional 90,434 shares during the last quarter. 96.01% of the stock is owned by institutional investors.

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.