Brokerages Set Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Price Target at $35.25

by · The Cerbat Gem

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Free Report) have received a consensus rating of “Reduce” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.25.

CBRL has been the topic of several recent research reports. Piper Sandler reduced their price target on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Bank of America lowered their target price on Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a report on Friday, December 19th. Truist Financial cut their price target on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Citigroup dropped their price objective on Cracker Barrel Old Country Store from $24.00 to $20.00 and set a “sell” rating for the company in a research report on Wednesday, December 10th.

Get Our Latest Report on Cracker Barrel Old Country Store

Insider Activity

In related news, major shareholder Gmt Capital Corp sold 84,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $28.15, for a total transaction of $2,384,305.00. Following the transaction, the insider owned 2,749,000 shares of the company’s stock, valued at approximately $77,384,350. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 296,700 shares of company stock worth $8,070,993 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth $26,000. Assetmark Inc. lifted its position in Cracker Barrel Old Country Store by 517.3% during the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 419 shares during the period. Canada Pension Plan Investment Board purchased a new position in Cracker Barrel Old Country Store during the second quarter worth about $37,000. Russell Investments Group Ltd. boosted its stake in Cracker Barrel Old Country Store by 360.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator’s stock worth $46,000 after buying an additional 922 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Cracker Barrel Old Country Store in the 3rd quarter worth about $51,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Stock Down 1.7%

Cracker Barrel Old Country Store stock opened at $25.95 on Thursday. Cracker Barrel Old Country Store has a fifty-two week low of $25.25 and a fifty-two week high of $71.93. The firm has a market capitalization of $579.46 million, a price-to-earnings ratio of 34.60 and a beta of 1.24. The stock’s fifty day moving average is $29.68 and its two-hundred day moving average is $46.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 0.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last released its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $797.19 million during the quarter, compared to the consensus estimate of $806.71 million. Cracker Barrel Old Country Store had a return on equity of 9.74% and a net margin of 0.49%.The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. Analysts predict that Cracker Barrel Old Country Store will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. Cracker Barrel Old Country Store’s payout ratio is 133.33%.

About Cracker Barrel Old Country Store

(Get Free Report)

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.

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