Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Stock Has Average Price Target of $50.86 According to Analysts

Key Points

• Analysts collectively rate Cracker Barrel “Hold.” Among 12 analysts, three recommend selling, four hold, three buy and two strongly buy; the average 12-month price target is $50.86.
• The company’s latest quarterly results beat expectations, with EPS of $0.99 versus the $0.17 consensus and revenue of $849.34 million. However, revenue declined 2.2% year over year, and analysts expect full-year EPS of $1.56.
• Institutional investors own 96.01% of the stock. Several funds recently initiated or increased positions, while an insider sold 3,500 shares for tax-withholding purposes; Cracker Barrel also announced a quarterly dividend of $0.25 per share.

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) have earned an average recommendation of "Hold" from the twelve analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $50.86.

CBRL has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the stock a "neutral" rating in a research note on Monday, September 21st. Bank of America restated an "underperform" rating and set a $48.00 target price on shares of Cracker Barrel Old Country Store in a report on Thursday, September 24th. Citigroup increased their target price on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a "sell" rating in a research report on Friday, September 25th. Piper Sandler reiterated a "neutral" rating and issued a $51.00 price target on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Finally, Zacks Research upgraded Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a report on Monday, August 24th.

Insiders Place Their Bets

In other Cracker Barrel Old Country Store news, SVP Donna Roberts sold 3,500 shares of Cracker Barrel Old Country Store stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $52.08, for a total value of $182,280.00. Following the transaction, the senior vice president owned 43,702 shares in the company, valued at $2,276,000.16. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Cracker Barrel Old Country Store

Several hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at $11,152,000. Meros Investment Management LP purchased a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $8,492,076. Royal Bank of Canada grew its stake in Cracker Barrel Old Country Store by 55.0% during the 1st quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator's stock worth $4,312,000 after buying an additional 54,431 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $7,444,000. Finally, First Trust Advisors LP increased its position in Cracker Barrel Old Country Store by 132.1% during the 1st quarter. First Trust Advisors LP now owns 124,739 shares of the restaurant operator's stock valued at $3,506,000 after buying an additional 70,987 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Trading Down 3.4%

NASDAQ CBRL opened at $66.69 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.24 and a current ratio of 0.58. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 47.64, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The company's 50-day simple moving average is $54.99 and its two-hundred day simple moving average is $46.01. Cracker Barrel Old Country Store has a one year low of $24.85 and a one year high of $70.28.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings results on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.82. Cracker Barrel Old Country Store had a net margin of 0.95% and a return on equity of 4.01%. The firm had revenue of $849.34 million during the quarter, compared to analysts' expectations of $834.57 million. During the same quarter in the prior year, the company earned $0.74 EPS. The company's revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Cracker Barrel Old Country Store will post 1.56 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Friday, October 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 71.43%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates full-service restaurants combined with country-themed retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve Southern-inspired comfort food, including breakfast items, lunch and dinner entrées, biscuits, desserts and beverages. The retail stores offer home décor, apparel, gifts, seasonal merchandise, toys and other products with a traditional country and Americana theme.

Founded in 1969 by Dan Evins, Cracker Barrel opened its first location in Lebanon, Tennessee.

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