Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $45.00 Price Target at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target lifted by Bank of America from $42.00 to $45.00 in a research note released on Friday,Benzinga reports. They currently have an underperform rating on the restaurant operator’s stock.

A number of other research analysts have also recently commented on the stock. Loop Capital cut their price target on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Argus lowered shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. UBS Group decreased their price target on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, September 19th. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Truist Financial lifted their target price on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.57.

Cracker Barrel Old Country Store Price Performance

Shares of Cracker Barrel Old Country Store stock traded up $0.74 during trading hours on Friday, reaching $48.81. The company’s stock had a trading volume of 790,288 shares, compared to its average volume of 733,693. The stock has a market cap of $1.08 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21. The firm has a 50 day moving average price of $45.15 and a 200-day moving average price of $44.97. Cracker Barrel Old Country Store has a one year low of $34.88 and a one year high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results 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 18.65% and a net margin of 1.18%. The firm had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. During the same quarter last year, the business posted $1.79 EPS. Cracker Barrel Old Country Store’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Cracker Barrel Old Country Store will post 2.94 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, October 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 54.35%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in Cracker Barrel Old Country Store during the 2nd quarter worth approximately $25,636,000. Charles Schwab Investment Management Inc. grew its position in Cracker Barrel Old Country Store by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after purchasing an additional 111,892 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at about $4,498,000. Verition Fund Management LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 96.0% in the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock valued at $7,299,000 after buying an additional 78,816 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Cracker Barrel Old Country Store in the third quarter worth about $2,526,000. 96.01% of the stock is owned by hedge funds and other institutional investors.

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.