Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) have received an average recommendation of “Reduce” from the twelve research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.75.

A number of brokerages have commented on CBRL. Bank of America reduced their target price 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. Gordon Haskett upgraded shares of Cracker Barrel Old Country Store to a “strong sell” rating in a research note on Wednesday, December 10th. UBS Group boosted their price objective on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Wells Fargo & Company upped their price objective on Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Finally, Piper Sandler decreased their target price on Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th.

Insider Buying and Selling at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the completion of the transaction, the insider directly owned 2,240,200 shares in the company, valued at approximately $57,259,512. The trade was a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 212,000 shares of company stock worth $5,521,328. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its position in shares of Cracker Barrel Old Country Store by 1,068.2% in the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock worth $74,655,000 after purchasing an additional 1,117,617 shares during the period. Franklin Resources Inc. raised its position in shares of Cracker Barrel Old Country Store by 13,737.1% during the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after purchasing an additional 923,409 shares during the period. GMT Capital Corp raised its position in shares of Cracker Barrel Old Country Store by 39.7% during the 2nd quarter. GMT Capital Corp now owns 2,833,700 shares of the restaurant operator’s stock valued at $173,082,000 after purchasing an additional 805,100 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at $43,930,000. Finally, Marshall Wace LLP purchased a new position in shares of Cracker Barrel Old Country Store during the 4th quarter valued at $5,225,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Down 1.2%

Shares of NASDAQ:CBRL opened at $29.08 on Tuesday. The stock’s 50-day simple moving average is $31.09 and its two-hundred day simple moving average is $35.45. The stock has a market capitalization of $649.94 million, a price-to-earnings ratio of -161.55 and a beta of 1.24. Cracker Barrel Old Country Store has a 52-week low of $24.85 and a 52-week high of $71.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.18 and a current ratio of 0.49.

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

Cracker Barrel Old Country Store Announces Dividend

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

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.