Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Down 2.5% After Analyst Downgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price fell 2.5% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $85.00 to $79.00. The stock traded as low as $69.50 and last traded at $70.10. 244,300 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 520,590 shares. The stock had previously closed at $71.93.

Several other analysts have also issued reports on CBRL. Loop Capital cut their price target on shares of Cracker Barrel Old Country Store from $97.00 to $82.00 in a research report on Thursday. Bank of America cut their price target on shares of Cracker Barrel Old Country Store from $90.00 to $75.00 in a research report on Thursday. CL King cut their price target on shares of Cracker Barrel Old Country Store from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, September 5th. Piper Sandler began coverage on shares of Cracker Barrel Old Country Store in a research report on Monday, July 17th. They set a “neutral” rating and a $96.00 price target for the company. Finally, StockNews.com started coverage on shares of Cracker Barrel Old Country Store in a research report on Thursday, August 17th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cracker Barrel Old Country Store has an average rating of “Hold” and a consensus target price of $90.44.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently bought and sold shares of the stock. Compass Wealth Management LLC purchased a new stake in shares of Cracker Barrel Old Country Store during the fourth quarter valued at approximately $28,000. Itau Unibanco Holding S.A. purchased a new position in Cracker Barrel Old Country Store in the 2nd quarter worth approximately $34,000. Belpointe Asset Management LLC purchased a new position in Cracker Barrel Old Country Store in the 4th quarter worth approximately $35,000. Strs Ohio purchased a new position in Cracker Barrel Old Country Store in the 1st quarter worth approximately $45,000. Finally, Parallel Advisors LLC raised its holdings in Cracker Barrel Old Country Store by 158.3% in the 1st quarter. Parallel Advisors LLC now owns 434 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 266 shares during the last quarter. 93.66% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Stock Performance

The company has a market capitalization of $1.55 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. The business’s fifty day moving average is $87.57 and its two-hundred day moving average is $98.71. The company has a current ratio of 0.61, a quick ratio of 0.20 and a debt-to-equity ratio of 0.94.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Wednesday, September 13th. The restaurant operator reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.11. Cracker Barrel Old Country Store had a net margin of 2.76% and a return on equity of 24.04%. The business had revenue of $836.70 million during the quarter, compared to the consensus estimate of $841.59 million. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts predict that Cracker Barrel Old Country Store, Inc. will post 5.36 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 20th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date is Thursday, October 19th. Cracker Barrel Old Country Store’s payout ratio is 122.64%.

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. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as dine-in, pick-up, and delivery services.