Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 2.2%

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price was down 2.2% on Wednesday . The company traded as low as $58.70 and last traded at $58.74. Approximately 49,935 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 647,416 shares. The stock had previously closed at $60.09.

Wall Street Analysts Forecast Growth

CBRL has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Citigroup upped their price target on Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the stock a “sell” rating in a research report on Wednesday, February 28th. Truist Financial lowered their price objective on Cracker Barrel Old Country Store from $75.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler dropped their target price on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.14.

Cracker Barrel Old Country Store Stock Down 5.3 %

The company has a 50-day moving average of $68.90 and a 200-day moving average of $71.61. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 4.31 and a beta of 1.45. The company has a current ratio of 0.58, a quick ratio of 0.21 and a debt-to-equity ratio of 0.98.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. Cracker Barrel Old Country Store had a return on equity of 23.13% and a net margin of 2.43%. The company had revenue of $935.40 million for the quarter, compared to analyst estimates of $917.83 million. During the same period in the prior year, the company posted $1.48 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Cracker Barrel Old Country Store, Inc. will post 4.62 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 12th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 9.13%. The ex-dividend date is Thursday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 138.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CBRL. Norges Bank acquired a new position in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $18,944,000. Two Sigma Investments LP grew its holdings in Cracker Barrel Old Country Store by 5,734.0% during the first quarter. Two Sigma Investments LP now owns 180,853 shares of the restaurant operator’s stock worth $20,545,000 after acquiring an additional 177,753 shares during the period. Millennium Management LLC grew its holdings in Cracker Barrel Old Country Store by 1,415.0% during the second quarter. Millennium Management LLC now owns 144,440 shares of the restaurant operator’s stock worth $12,059,000 after acquiring an additional 134,906 shares during the period. Marshall Wace LLP grew its holdings in Cracker Barrel Old Country Store by 266.4% during the fourth quarter. Marshall Wace LLP now owns 174,250 shares of the restaurant operator’s stock worth $16,508,000 after acquiring an additional 126,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Cracker Barrel Old Country Store by 87.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 248,548 shares of the restaurant operator’s stock worth $23,547,000 after acquiring an additional 115,665 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.

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.