Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $29.00 Price Target at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective cut by Bank of America from $34.00 to $29.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an underperform rating on the restaurant operator’s stock.

CBRL has been the subject of several other research reports. Truist Financial cut their price objective on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Thursday, December 11th. Piper Sandler reduced 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 research report on Wednesday, December 10th. Argus dropped their price objective on shares of 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. Finally, Zacks Research raised shares of Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of “Reduce” and a consensus price target of $35.25.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL opened at $26.21 on Friday. The firm’s 50-day moving average price is $31.12 and its 200-day moving average price is $47.82. Cracker Barrel Old Country Store has a 52-week low of $25.25 and a 52-week high of $71.93. The company has a market cap of $585.27 million, a PE ratio of 34.95 and a beta of 1.24. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. Cracker Barrel Old Country Store had a net margin of 0.49% and a return on equity of 9.74%. The firm had revenue of $797.19 million during the quarter, compared to analysts’ expectations of $806.71 million. During the same period in the previous year, the company earned $0.45 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, analysts anticipate that Cracker Barrel Old Country Store will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Friday, January 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 133.33%.

Insider Buying and Selling

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 that occurred on Tuesday, December 16th. The shares were sold at an average price of $26.13, for a total transaction of $1,107,912.00. Following the transaction, the insider owned 2,409,800 shares of the company’s stock, valued at $62,968,074. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 254,300 shares of company stock worth $6,952,905. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently modified their holdings of CBRL. GMT Capital Corp purchased a new position in shares of Cracker Barrel Old Country Store during the 1st quarter valued at $78,750,000. Alliancebernstein L.P. raised its holdings in Cracker Barrel Old Country Store by 1,068.2% during the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock valued at $74,655,000 after acquiring an additional 1,117,617 shares during the period. Franklin Resources Inc. lifted its position in shares of Cracker Barrel Old Country Store by 13,737.1% in the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after acquiring an additional 923,409 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Cracker Barrel Old Country Store in the second quarter worth about $43,930,000. Finally, Woodline Partners LP boosted its stake in shares of Cracker Barrel Old Country Store by 340.8% in the first quarter. Woodline Partners LP now owns 332,790 shares of the restaurant operator’s stock worth $12,919,000 after acquiring an additional 257,301 shares during the period. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Company Profile

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.