Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Cut to $45.00 by Analysts at Truist Financial

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective cut by Truist Financial from $50.00 to $45.00 in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the restaurant operator’s stock.

Several other analysts have also issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup decreased their target price on Cracker Barrel Old Country Store from $42.00 to $24.00 and set a “sell” rating on the stock in a research report on Friday, November 21st. Piper Sandler lowered their price target on Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America cut their price target on Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating for the company in a report on Thursday, September 18th. Finally, Argus decreased their price objective on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of “Reduce” and a consensus target price of $36.88.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL opened at $27.95 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.50 and a quick ratio of 0.21. Cracker Barrel Old Country Store has a one year low of $25.25 and a one year high of $71.93. The business’s 50-day moving average price is $33.28 and its two-hundred day moving average price is $49.27. The company has a market capitalization of $622.45 million, a P/E ratio of 37.27 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $845.09 million during the quarter. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.55%. Analysts anticipate that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio is 48.31%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $26.89, for a total value of $1,140,136.00. Following the transaction, the insider directly owned 2,579,400 shares in the company, valued at $69,360,066. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 169,500 shares of company stock worth $4,737,081 over the last ninety days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its holdings in Cracker Barrel Old Country Store by 517.3% during the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 419 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd bought a new position in Cracker Barrel Old Country Store during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in Cracker Barrel Old Country Store during the first quarter valued at approximately $30,000. Finally, Byrne Asset Management LLC bought a new stake in Cracker Barrel Old Country Store in the third quarter valued at approximately $51,000. 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 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.