StockNews.com Lowers Cracker Barrel Old Country Store (NASDAQ:CBRL) to Sell

StockNews.com lowered shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a hold rating to a sell rating in a research report sent to investors on Friday.

CBRL has been the subject of several other reports. Loop Capital lowered their price objective on shares of Cracker Barrel Old Country Store from $72.00 to $50.00 and set a hold rating for the company in a report on Monday, May 20th. UBS Group dropped their target price 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. Piper Sandler lowered their target price on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a neutral rating on the stock in a research note on Monday, March 4th. CL King downgraded shares of Cracker Barrel Old Country Store from a buy rating to a neutral rating and set a $90.00 price target on the stock. in a report on Friday, May 17th. Finally, Citigroup reduced their price target on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a sell rating on the stock in a report on Friday. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $62.14.

Cracker Barrel Old Country Store Stock Performance

Cracker Barrel Old Country Store stock opened at $50.64 on Friday. 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 firm has a 50-day moving average of $57.82 and a 200-day moving average of $68.29. The firm has a market cap of $1.12 billion, a P/E ratio of 18.69, a P/E/G ratio of 0.98 and a beta of 1.46. Cracker Barrel Old Country Store has a 1-year low of $43.38 and a 1-year high of $101.58.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.32. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The company had revenue of $817.14 million during the quarter, compared to analyst estimates of $820.61 million. During the same period in the prior year, the business posted $1.21 earnings per share. Cracker Barrel Old Country Store’s revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts expect that Cracker Barrel Old Country Store will post 4.08 EPS for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 191.88%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Cracker Barrel Old Country Store during the 4th quarter valued at about $32,000. Future Financial Wealth Managment LLC purchased a new stake in Cracker Barrel Old Country Store in the 1st quarter valued at about $73,000. Security National Bank purchased a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at about $81,000. Newbridge Financial Services Group Inc. boosted its position in Cracker Barrel Old Country Store by 85.2% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,250 shares of the restaurant operator’s stock valued at $91,000 after buying an additional 575 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Cracker Barrel Old Country Store by 106.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,531 shares of the restaurant operator’s stock valued at $118,000 after buying an additional 788 shares during the period. 96.01% of the stock is currently owned by institutional investors.

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.