Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Lowered to $20.00 at Citigroup

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target reduced by Citigroup from $24.00 to $20.00 in a research report sent to investors on Wednesday,Benzinga reports. Citigroup currently has a sell rating on the restaurant operator’s stock.

Several other brokerages have also recently issued reports on CBRL. Truist Financial decreased their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday. Wall Street Zen cut Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 20th. UBS Group lowered their price objective on Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their target price on Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Bank of America decreased their price target on Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating on the stock in a report on Thursday, September 18th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.88.

Cracker Barrel Old Country Store Price Performance

CBRL stock opened at $27.95 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.21 and a current ratio of 0.50. The company’s fifty day moving average price is $33.28 and its 200-day moving average price is $49.27. Cracker Barrel Old Country Store has a one year low of $25.25 and a one year high of $71.93. The company has a market capitalization of $622.45 million, a PE ratio of 37.27 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. The company had revenue of $845.09 million for the quarter. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.55%. On average, equities analysts anticipate that Cracker Barrel Old Country Store will post 2.76 EPS 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 Wednesday, February 11th. Stockholders of record on Friday, January 16th will be given a $0.25 dividend. 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 payout ratio is presently 48.31%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp sold 42,400 shares of Cracker Barrel Old Country Store stock in a transaction 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 of the company’s stock, valued at approximately $69,360,066. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 169,500 shares of company stock valued at $4,737,081. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of 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 purchasing an additional 419 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Cracker Barrel Old Country Store in the second quarter valued at $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cracker Barrel Old Country Store during the 3rd quarter worth about $26,000. Brooklyn Investment Group purchased a new position in shares of Cracker Barrel Old Country Store during the 1st quarter valued at about $30,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at about $51,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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.