Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $42.00 Price Target at UBS Group

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective decreased by UBS Group from $55.00 to $42.00 in a report released on Thursday morning. UBS Group currently has a neutral rating on the restaurant operator’s stock.

Several other brokerages also recently weighed in on CBRL. Argus downgraded shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Tuesday, August 6th. Bank of America decreased their price objective on shares of Cracker Barrel Old Country Store from $48.00 to $46.00 and set an underperform rating for the company in a research note on Wednesday, July 17th. Truist Financial cut their target price on Cracker Barrel Old Country Store from $46.00 to $42.00 and set a hold rating on the stock in a research report on Thursday, September 5th. Benchmark raised Cracker Barrel Old Country Store to a hold rating in a research report on Monday, June 3rd. Finally, StockNews.com lowered Cracker Barrel Old Country Store from a hold rating to a sell rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $53.57.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL stock opened at $41.57 on Thursday. The company has a market cap of $922.94 million, a P/E ratio of 15.34, a PEG ratio of 0.94 and a beta of 1.42. The firm has a fifty day moving average price of $40.93 and a 200 day moving average price of $49.84. The company has a current ratio of 0.63, a quick ratio of 0.23 and a debt-to-equity ratio of 1.11. Cracker Barrel Old Country Store has a 12 month low of $34.88 and a 12 month high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.19). Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The business had revenue of $894.39 million for the quarter, compared to analyst estimates of $898.94 million. During the same period in the prior year, the company posted $1.79 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Cracker Barrel Old Country Store will post 3.83 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Friday, October 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 18th. Cracker Barrel Old Country Store’s payout ratio is currently 36.90%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in Cracker Barrel Old Country Store in the 2nd quarter valued at $25,636,000. Norges Bank purchased a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $10,727,000. Verition Fund Management LLC increased its stake in shares of Cracker Barrel Old Country Store by 423.9% during the fourth quarter. Verition Fund Management LLC now owns 81,837 shares of the restaurant operator’s stock worth $6,308,000 after acquiring an additional 66,215 shares during the period. Armistice Capital LLC purchased a new position in Cracker Barrel Old Country Store during the fourth quarter worth about $3,854,000. Finally, Miller Howard Investments Inc. NY acquired a new stake in Cracker Barrel Old Country Store in the first quarter valued at about $2,909,000. 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.