Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of 12 analysts covering Cracker Barrel, three recommend selling, five recommend holding, three recommend buying and one gives a strong-buy rating. The average 12-month price target is $48.14.
• Quarterly results exceeded expectations: Cracker Barrel reported adjusted earnings of $0.29 per share versus the consensus estimate of a $0.45 loss, while revenue reached $797.37 million, though sales declined 2.9% year over year.
• The company maintained its dividend: Cracker Barrel declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 1.7% yield; institutional investors own approximately 96% of the stock.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) has been assigned an average rating of "Hold" from the twelve analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $48.1429.

A number of research analysts recently issued reports on CBRL shares. Bank of America boosted their target price on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a "sell" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a report on Saturday, June 13th. Piper Sandler reiterated a "neutral" rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Finally, Argus increased their price objective on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th.

Cracker Barrel Old Country Store Trading Down 0.9%

Shares of CBRL stock opened at $58.22 on Friday. Cracker Barrel Old Country Store has a fifty-two week low of $24.85 and a fifty-two week high of $63.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. The stock has a 50 day simple moving average of $48.64 and a two-hundred day simple moving average of $36.80. The company has a market cap of $1.30 billion, a P/E ratio of 50.19 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.74. The firm had revenue of $797.37 million for the quarter, compared to analysts' expectations of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The company's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Research analysts forecast that Cracker Barrel Old Country Store will post 0.01 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. Cracker Barrel Old Country Store's dividend payout ratio is 86.21%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 22.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 321 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Cracker Barrel Old Country Store by 16.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator's stock worth $71,000 after buying an additional 400 shares during the period. Captrust Financial Advisors raised its holdings in Cracker Barrel Old Country Store by 8.4% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator's stock valued at $409,000 after buying an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cracker Barrel Old Country Store by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator's stock valued at $510,000 after buying an additional 546 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Cracker Barrel Old Country Store during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 96.01% of the company's stock.

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.

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