Gordon Haskett Begins Coverage on Cracker Barrel Old Country Store (CBRL)

Gordon Haskett assumed coverage on shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage issued a hold rating and a $152.00 price target on the restaurant operator’s stock.

Other equities analysts have also issued reports about the company. ValuEngine lowered Cracker Barrel Old Country Store from a hold rating to a sell rating in a report on Friday, June 29th. BidaskClub lowered Cracker Barrel Old Country Store from a hold rating to a sell rating in a report on Thursday, August 30th. Zacks Investment Research raised Cracker Barrel Old Country Store from a sell rating to a hold rating in a report on Friday, August 17th. SunTrust Banks increased their price objective on Cracker Barrel Old Country Store to $134.00 and gave the stock a hold rating in a report on Wednesday, September 19th. Finally, Telsey Advisory Group decreased their price objective on Cracker Barrel Old Country Store from $165.00 to $155.00 and set an outperform rating for the company in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average price target of $160.00.

Shares of NASDAQ:CBRL traded up $3.20 during trading on Thursday, hitting $158.32. 355,494 shares of the company traded hands, compared to its average volume of 423,998. The firm has a market capitalization of $3.80 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. Cracker Barrel Old Country Store has a one year low of $141.63 and a one year high of $179.12. The company has a current ratio of 0.84, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, September 18th. The restaurant operator reported $2.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.69 by ($0.14). The company had revenue of $810.90 million for the quarter, compared to the consensus estimate of $824.86 million. Cracker Barrel Old Country Store had a net margin of 8.17% and a return on equity of 35.81%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.23 earnings per share. As a group, analysts predict that Cracker Barrel Old Country Store will post 8.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Friday, October 19th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, October 18th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 56.37%.

In related news, VP Laura A. Daily sold 2,740 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $145.60, for a total value of $398,944.00. Following the completion of the transaction, the vice president now directly owns 11,392 shares of the company’s stock, valued at approximately $1,658,675.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nicholas V. Flanagan sold 6,000 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $145.81, for a total value of $874,860.00. Following the completion of the transaction, the vice president now directly owns 18,784 shares of the company’s stock, valued at $2,738,895.04. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds have recently modified their holdings of CBRL. JPMorgan Chase & Co. grew its holdings in Cracker Barrel Old Country Store by 26.2% in the 1st quarter. JPMorgan Chase & Co. now owns 69,786 shares of the restaurant operator’s stock worth $11,109,000 after buying an additional 14,472 shares in the last quarter. California Public Employees Retirement System lifted its position in Cracker Barrel Old Country Store by 18.9% in the first quarter. California Public Employees Retirement System now owns 39,991 shares of the restaurant operator’s stock worth $6,367,000 after purchasing an additional 6,357 shares during the period. Stifel Financial Corp lifted its position in Cracker Barrel Old Country Store by 12.1% in the first quarter. Stifel Financial Corp now owns 4,463 shares of the restaurant operator’s stock worth $710,000 after purchasing an additional 481 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Cracker Barrel Old Country Store in the first quarter worth approximately $264,000. Finally, Principal Financial Group Inc. lifted its position in Cracker Barrel Old Country Store by 2.7% in the first quarter. Principal Financial Group Inc. now owns 104,428 shares of the restaurant operator’s stock worth $16,625,000 after purchasing an additional 2,770 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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Analyst Recommendations for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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