Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 2.2% on Analyst Downgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price traded down 2.2% on Wednesday after Truist Financial lowered their price target on the stock from $72.00 to $68.00. Truist Financial currently has a hold rating on the stock. Cracker Barrel Old Country Store traded as low as $58.70 and last traded at $58.74. 49,935 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 647,416 shares. The stock had previously closed at $60.09.

CBRL has been the subject of several other reports. Citigroup increased their target price on shares of Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the company a “sell” rating in a research note on Wednesday, February 28th. UBS Group cut their target price on shares of Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler cut their target price on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.57.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC acquired a new position in Cracker Barrel Old Country Store in the 4th quarter valued at approximately $28,000. Itau Unibanco Holding S.A. acquired a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth $34,000. GAMMA Investing LLC acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $32,000. Geneos Wealth Management Inc. increased its stake in shares of Cracker Barrel Old Country Store by 104.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 255 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $54,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Up 0.9 %

The company’s 50 day moving average price is $67.97 and its 200 day moving average price is $71.40. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 3.96 and a beta of 1.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.21 and a current ratio of 0.58.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. The company had revenue of $935.40 million for the quarter, compared to analyst estimates of $917.83 million. Cracker Barrel Old Country Store had a net margin of 2.43% and a return on equity of 23.13%. Cracker Barrel Old Country Store’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 EPS. Research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 4.61 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 12th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 9.22%. The ex-dividend date is Thursday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 138.67%.

About Cracker Barrel Old Country Store

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.