Bank of America Increases Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $42.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target hoisted by Bank of America from $40.00 to $42.00 in a research note published on Friday, Benzinga reports. They currently have an underperform rating on the restaurant operator’s stock.

Several other research firms also recently commented on CBRL. Citigroup reduced their price objective on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a sell rating on the stock in a report on Friday, May 31st. Benchmark upgraded Cracker Barrel Old Country Store to a hold rating in a report on Monday, June 3rd. UBS Group dropped their target price on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a neutral rating on the stock in a report on Thursday. Truist Financial boosted their price target on shares of Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a hold rating in a report on Friday. Finally, StockNews.com downgraded shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $53.57.

Cracker Barrel Old Country Store Stock Up 1.1 %

NASDAQ:CBRL opened at $41.57 on Friday. The company has a market cap of $922.94 million, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. Cracker Barrel Old Country Store has a twelve month low of $34.88 and a twelve month high of $83.51. The company has a current ratio of 0.63, a quick ratio of 0.23 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $40.93 and a 200-day simple moving average of $49.84.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). The company had revenue of $894.39 million for the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.79 EPS. Analysts anticipate that Cracker Barrel Old Country Store will post 3.83 EPS 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, November 13th. Shareholders of record on Friday, October 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 18th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 36.90%.

Institutional Trading of Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. grew its stake in Cracker Barrel Old Country Store by 63.7% during the 4th quarter. Pinebridge Investments L.P. now owns 17,794 shares of the restaurant operator’s stock worth $1,371,000 after buying an additional 6,925 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Cracker Barrel Old Country Store during the first quarter worth about $73,000. Duality Advisers LP increased its holdings in shares of Cracker Barrel Old Country Store by 196.5% during the first quarter. Duality Advisers LP now owns 50,928 shares of the restaurant operator’s stock valued at $3,704,000 after acquiring an additional 33,751 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Cracker Barrel Old Country Store by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock valued at $324,000 after purchasing an additional 306 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of Cracker Barrel Old Country Store in the 1st quarter valued at approximately $2,909,000. Hedge funds and other institutional investors 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.