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 report issued on Friday, Benzinga reports. They currently have an underperform rating on the restaurant operator’s stock.

Other research analysts also recently issued reports about the stock. Benchmark raised shares of Cracker Barrel Old Country Store to a hold rating in a report on Monday, June 3rd. Truist Financial lifted their price target on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a hold rating in a research report on Friday. UBS Group dropped their price objective on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a neutral rating on the stock in a report on Thursday, September 19th. Citigroup reduced their target price on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a sell rating for the company in a report on Friday, May 31st. Finally, StockNews.com downgraded shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $53.57.

Cracker Barrel Old Country Store Stock Performance

NASDAQ:CBRL opened at $40.89 on Friday. The company has a market capitalization of $907.84 million, a P/E ratio of 15.09, a P/E/G ratio of 0.94 and a beta of 1.42. The business has a fifty day simple moving average of $40.91 and a two-hundred day simple moving average of $49.64. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.63 and a quick ratio of 0.23. Cracker Barrel Old Country Store has a 1 year low of $34.88 and a 1 year high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.19). Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The firm had revenue of $894.39 million for the quarter, compared to the consensus estimate of $898.94 million. During the same quarter in the previous year, the company posted $1.79 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Cracker Barrel Old Country Store will post 3.83 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, October 18th. Cracker Barrel Old Country Store’s payout ratio is 36.90%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its position in Cracker Barrel Old Country Store by 106.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,531 shares of the restaurant operator’s stock worth $118,000 after acquiring an additional 788 shares in the last quarter. Norges Bank purchased a new position in shares of Cracker Barrel Old Country Store in the 4th quarter worth about $10,727,000. PNC Financial Services Group Inc. increased its position in shares of Cracker Barrel Old Country Store by 18.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,667 shares of the restaurant operator’s stock valued at $283,000 after purchasing an additional 582 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $397,000. Finally, Connable Office Inc. purchased a new position in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $325,000. 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.