Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 4.6% - Should You Sell?

Key Points

• Cracker Barrel Old Country Store's stock price fell 4.6%, trading at $37.79 after reaching a low of $37.91, with trading volume down 43% from average levels.
• Recent analyst ratings have been unfavorable, with Zacks Research downgrading it to a "strong sell" and Citigroup lowering the price target from $47.00 to $42.00.
• The company announced a quarterly dividend of $0.25 per share, representing a 2.7% dividend yield, with the payout ratio currently at 48.31%.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s share price traded down 4.6% on Monday . The stock traded as low as $37.91 and last traded at $37.79. 636,450 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,116,420 shares. The stock had previously closed at $39.62.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research lowered Cracker Barrel Old Country Store from a "hold" rating to a "strong sell" rating in a research note on Friday, September 19th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, October 8th. Citigroup lowered their price objective on Cracker Barrel Old Country Store from $47.00 to $42.00 and set a "sell" rating on the stock in a report on Thursday, September 18th. Piper Sandler lowered their target price on Cracker Barrel Old Country Store from $56.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, September 18th. Finally, Bank of America lowered their target price 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 investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of "Reduce" and an average price target of $50.88.

Cracker Barrel Old Country Store Trading Down 7.5%

The business has a 50-day simple moving average of $50.16 and a 200-day simple moving average of $53.22. The company has a quick ratio of 0.21, a current ratio of 0.50 and a debt-to-equity ratio of 0.73. The company has a market cap of $815.75 million, a PE ratio of 17.70 and a beta of 1.32.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. Cracker Barrel Old Country Store had a return on equity of 15.48% and a net margin of 1.33%.The business had revenue of $845.09 million for the quarter. On average, analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Friday, October 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Cracker Barrel Old Country Store's payout ratio is presently 48.31%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently modified their holdings of the company. SummerHaven Investment Management LLC boosted its stake in Cracker Barrel Old Country Store by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator's stock valued at $1,214,000 after acquiring an additional 311 shares in the last quarter. Parvin Asset Management LLC increased its holdings in Cracker Barrel Old Country Store by 4.4% in the second quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator's stock valued at $507,000 after buying an additional 350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Cracker Barrel Old Country Store by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator's stock valued at $349,000 after buying an additional 389 shares in the last quarter. Assetmark Inc. increased its stake in shares of Cracker Barrel Old Country Store by 517.3% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator's stock worth $31,000 after purchasing an additional 419 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its stake in shares of Cracker Barrel Old Country Store by 1.5% during the 2nd quarter. Aviance Capital Partners LLC now owns 33,961 shares of the restaurant operator's stock worth $2,074,000 after purchasing an additional 487 shares in the last quarter. 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 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.

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