Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) have received an average recommendation of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $48.6250.

A number of brokerages have recently commented on CBRL. Argus lowered their price target on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Weiss Ratings lowered shares of Cracker Barrel Old Country Store from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Wells Fargo & Company initiated coverage on shares of Cracker Barrel Old Country Store in a research report on Friday, October 17th. They set an “equal weight” rating and a $42.00 price target on the stock. Citigroup lowered their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $24.00 and set a “sell” rating for the company in a research report on Friday, November 21st. Finally, Piper Sandler decreased their target price on Cracker Barrel Old Country Store from $56.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th.

Cracker Barrel Old Country Store Price Performance

Shares of CBRL stock opened at $28.86 on Friday. The firm’s 50 day moving average price is $35.86 and its two-hundred day moving average price is $50.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.21 and a current ratio of 0.50. Cracker Barrel Old Country Store has a 52-week low of $25.62 and a 52-week high of $71.93. The stock has a market cap of $642.57 million, a PE ratio of 13.94 and a beta of 1.32.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. Cracker Barrel Old Country Store had a return on equity of 15.48% and a net margin of 1.33%.The company had revenue of $845.09 million for the quarter. As a group, analysts forecast that Cracker Barrel Old Country Store will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Friday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, October 17th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 48.31%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the first quarter worth $945,000. Invesco Ltd. increased its holdings in Cracker Barrel Old Country Store by 17.0% during the 1st quarter. Invesco Ltd. now owns 199,396 shares of the restaurant operator’s stock worth $7,741,000 after purchasing an additional 28,966 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Cracker Barrel Old Country Store by 27.7% in the 1st quarter. Public Sector Pension Investment Board now owns 70,595 shares of the restaurant operator’s stock valued at $2,740,000 after purchasing an additional 15,323 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Cracker Barrel Old Country Store by 360.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 922 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at about $48,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

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.