Cracker Barrel Old Country Store, Inc. (CBRL) to Issue Quarterly Dividend of $0.25 on February 12th

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.25 per share by the restaurant operator on Wednesday, February 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, January 17th.

Cracker Barrel Old Country Store has raised its dividend by an average of 26.0% annually over the last three years. Cracker Barrel Old Country Store has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cracker Barrel Old Country Store to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.2%.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL opened at $50.21 on Friday. The firm has a 50-day simple moving average of $48.34 and a 200-day simple moving average of $44.59. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. The company has a quick ratio of 0.21, a current ratio of 0.61 and a debt-to-equity ratio of 1.08. Cracker Barrel Old Country Store has a 52 week low of $34.88 and a 52 week high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.58%. The firm had revenue of $894.39 million during the quarter, compared to analysts’ expectations of $898.94 million. During the same period in the prior year, the company posted $1.79 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Cracker Barrel Old Country Store will post 2.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial increased their target price on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. Bank of America raised their target price on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday. StockNews.com cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday. Argus upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Monday, November 18th. Finally, Piper Sandler lifted their price objective on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of “Hold” and an average target price of $57.25.

About Cracker Barrel Old Country Store

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.