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 was down 2.2% during mid-day trading 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. Approximately 49,935 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 647,416 shares. The stock had previously closed at $60.09.

Several other research analysts have also recently weighed in on CBRL. Citigroup increased their price target on shares of Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the company a “sell” rating in a report on Wednesday, February 28th. UBS Group lowered their price target on shares of Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Piper Sandler lowered their price target on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus target price of $76.57.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. TCM Advisors LLC increased its holdings in shares of Cracker Barrel Old Country Store by 1.6% during the first quarter. TCM Advisors LLC now owns 6,300 shares of the restaurant operator’s stock worth $716,000 after purchasing an additional 100 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Cracker Barrel Old Country Store by 3.3% during the fourth quarter. Teacher Retirement System of Texas now owns 3,269 shares of the restaurant operator’s stock worth $310,000 after purchasing an additional 103 shares during the period. Smith Moore & CO. boosted its position in shares of Cracker Barrel Old Country Store by 3.3% during the 1st quarter. Smith Moore & CO. now owns 3,892 shares of the restaurant operator’s stock worth $442,000 after acquiring an additional 123 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cracker Barrel Old Country Store by 4.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,855 shares of the restaurant operator’s stock worth $324,000 after acquiring an additional 126 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of Cracker Barrel Old Country Store by 4.3% during the 1st quarter. Gotham Asset Management LLC now owns 3,236 shares of the restaurant operator’s stock worth $368,000 after acquiring an additional 132 shares in the last quarter. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Price Performance

The company has a current ratio of 0.58, a quick ratio of 0.21 and a debt-to-equity ratio of 0.98. The firm 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’s 50-day moving average is $67.97 and its 200-day moving average is $71.40.

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

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 12th will be given a $1.30 dividend. The ex-dividend date is Thursday, April 11th. This represents a $5.20 dividend on an annualized basis and a yield of 9.22%. 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.