Cracker Barrel Old Country Store (NASDAQ:CBRL) Posts Quarterly Earnings Results

Cracker Barrel Old Country Store (NASDAQ:CBRL) issued its earnings results on Tuesday. The restaurant operator reported $1.52 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.03), MarketWatch Earnings reports. The business had revenue of $784.90 million for the quarter, compared to the consensus estimate of $768.67 million. Cracker Barrel Old Country Store had a net margin of 9.02% and a return on equity of 19.44%. The business’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS.

NASDAQ CBRL opened at $130.45 on Wednesday. Cracker Barrel Old Country Store has a 1 year low of $123.74 and a 1 year high of $178.82. The company has a current ratio of 0.76, a quick ratio of 0.46 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.14 and a beta of 1.43. The firm’s 50 day simple moving average is $139.29 and its 200 day simple moving average is $143.91.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Friday, January 14th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.99%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 48.55%.

Cracker Barrel Old Country Store announced that its board has initiated a stock buyback program on Tuesday, September 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

A hedge fund recently raised its stake in Cracker Barrel Old Country Store stock. Morgan Stanley lifted its holdings in shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,053 shares of the restaurant operator’s stock after purchasing an additional 3,876 shares during the period. Morgan Stanley owned 0.50% of Cracker Barrel Old Country Store worth $17,676,000 as of its most recent filing with the SEC. 89.12% of the stock is currently owned by institutional investors.

A number of research firms recently commented on CBRL. Zacks Investment Research cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating and set a $123.00 price objective for the company. in a research report on Friday, September 24th. Truist Securities lowered their price objective on shares of Cracker Barrel Old Country Store from $159.00 to $152.00 and set a “hold” rating for the company in a research report on Wednesday, September 22nd. Bank of America started coverage on shares of Cracker Barrel Old Country Store in a research note on Tuesday, October 26th. They issued a “neutral” rating and a $148.00 target price for the company. Wells Fargo & Company upped their target price on shares of Cracker Barrel Old Country Store from $137.00 to $139.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 22nd. Finally, Truist reduced their price objective on shares of Cracker Barrel Old Country Store from $178.00 to $159.00 and set a “hold” rating for the company in a research note on Wednesday, September 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and a consensus target price of $153.60.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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Earnings History for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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