Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Stock Has Average Price Target of $50.86

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has been given a consensus recommendation of “Hold” by the twelve analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $50.86.

CBRL has been the topic of several research analyst reports. Weiss Ratings raised shares of Cracker Barrel Old Country Store from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 21st. Piper Sandler reiterated a “neutral” rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Argus increased their price objective on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Citigroup raised their target price on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, September 25th. Finally, UBS Group boosted their target price on Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, September 21st.

Cracker Barrel Old Country Store Trading Up 7.8%

NASDAQ CBRL opened at $55.76 on Friday. The stock has a market capitalization of $1.25 billion, a P/E ratio of 39.83, a P/E/G ratio of 1.02 and a beta of 1.21. The business has a 50 day simple moving average of $53.82 and a 200 day simple moving average of $43.06. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.58 and a quick ratio of 0.24. Cracker Barrel Old Country Store has a one year low of $24.85 and a one year high of $60.26.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.82. The firm had revenue of $849.34 million for the quarter, compared to analysts’ expectations of $834.57 million. Cracker Barrel Old Country Store had a return on equity of 4.01% and a net margin of 0.95%.The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. Research analysts expect that Cracker Barrel Old Country Store will post 1.18 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Friday, October 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Cracker Barrel Old Country Store’s payout ratio is presently 71.43%.

Insider Activity at Cracker Barrel Old Country Store

In related news, SVP Donna Roberts sold 3,500 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $52.08, for a total value of $182,280.00. Following the completion of the sale, the senior vice president directly owned 43,702 shares of the company’s stock, valued at approximately $2,276,000.16. This represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently modified their holdings of CBRL. Axiom Investment Management LLC bought a new stake in Cracker Barrel Old Country Store during the first quarter worth $28,000. Caitong International Asset Management Co. Ltd increased its holdings in Cracker Barrel Old Country Store by 107.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,246 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 645 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Cracker Barrel Old Country Store in the 4th quarter worth about $35,000. Integrated Wealth Concepts LLC bought a new stake in Cracker Barrel Old Country Store in the 2nd quarter valued at about $91,000. Finally, PNC Financial Services Group Inc. raised its stake in Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 321 shares during the period. Institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates full-service restaurants combined with country-themed retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve Southern-inspired comfort food, including breakfast items, lunch and dinner entrées, biscuits, desserts and beverages. The retail stores offer home décor, apparel, gifts, seasonal merchandise, toys and other products with a traditional country and Americana theme.

Founded in 1969 by Dan Evins, Cracker Barrel opened its first location in Lebanon, Tennessee.