Cracker Barrel Old Country Store (NASDAQ:CBRL) Downgraded by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Cracker Barrel Old Country Store (NASDAQ:CBRLGet Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has $100.00 price objective on the restaurant operator’s stock, down from their prior price objective of $109.00.

Several other analysts also recently issued reports on the company. MKM Partners decreased their target price on Cracker Barrel Old Country Store from $140.00 to $115.00 and set a neutral rating on the stock in a research note on Friday, June 3rd. StockNews.com downgraded Cracker Barrel Old Country Store from a buy rating to a hold rating in a research note on Thursday, June 16th. Loop Capital reduced their price objective on Cracker Barrel Old Country Store from $132.00 to $113.00 in a research note on Thursday, April 7th. Bank of America downgraded Cracker Barrel Old Country Store from a neutral rating to an underperform rating and reduced their price objective for the stock from $108.00 to $94.00 in a research note on Monday, June 27th. Finally, Truist Financial reduced their price objective on Cracker Barrel Old Country Store from $104.00 to $94.00 and set a hold rating on the stock in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $107.00.

Cracker Barrel Old Country Store Stock Down 0.6 %

CBRL stock opened at $96.58 on Tuesday. Cracker Barrel Old Country Store has a twelve month low of $81.87 and a twelve month high of $149.88. The company has a quick ratio of 0.22, a current ratio of 0.63 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.20 billion, a P/E ratio of 16.86, a PEG ratio of 2.38 and a beta of 1.33. The business’s 50-day moving average price is $91.48 and its 200-day moving average price is $108.45.

Cracker Barrel Old Country Store (NASDAQ:CBRLGet Rating) last issued its earnings results on Tuesday, June 7th. The restaurant operator reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.08. The company had revenue of $790.20 million for the quarter, compared to the consensus estimate of $793.96 million. Cracker Barrel Old Country Store had a return on equity of 25.85% and a net margin of 4.19%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. On average, equities research analysts forecast that Cracker Barrel Old Country Store will post 5.93 EPS for the current year.

Cracker Barrel Old Country Store declared that its board has initiated a share buyback plan on Tuesday, June 7th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the restaurant operator to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Friday, July 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend was Thursday, July 14th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 90.75%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of large investors have recently bought and sold shares of CBRL. Meeder Asset Management Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 761.5% in the 1st quarter. Meeder Asset Management Inc. now owns 224 shares of the restaurant operator’s stock worth $27,000 after buying an additional 198 shares during the period. JJJ Advisors Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 265.1% in the 4th quarter. JJJ Advisors Inc. now owns 230 shares of the restaurant operator’s stock worth $30,000 after buying an additional 167 shares during the period. Confluence Wealth Services Inc. purchased a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter worth $30,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 66.7% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the restaurant operator’s stock worth $30,000 after buying an additional 100 shares during the period. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Cracker Barrel Old Country Store by 1,048.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 310 shares of the restaurant operator’s stock worth $40,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 81.40% of the company’s stock.

About Cracker Barrel Old Country Store

(Get Rating)

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.

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

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