Cracker Barrel Old Country Store (NASDAQ:CBRL) Reaches New 1-Year Low at $40.11

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) reached a new 52-week low on Monday . The company traded as low as $40.11 and last traded at $40.61, with a volume of 456400 shares trading hands. The stock had previously closed at $42.16.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBRL. Bank of America dropped their price target on shares of Cracker Barrel Old Country Store from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, May 16th. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday. Truist Financial lowered their price objective on Cracker Barrel Old Country Store from $51.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Piper Sandler decreased their price target on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, March 4th. Finally, Citigroup dropped their price objective on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating on the stock in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.14.

Cracker Barrel Old Country Store Stock Performance

The company has a market cap of $905.98 million, a P/E ratio of 15.56, a P/E/G ratio of 0.90 and a beta of 1.43. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $50.43 and a two-hundred day simple moving average of $64.39.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. The firm had revenue of $817.14 million for the quarter, compared to analysts’ expectations of $820.61 million. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 EPS. On average, sell-side analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 3.88 EPS for the current year.

Cracker Barrel Old Country Store Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 19th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, July 19th. Cracker Barrel Old Country Store’s dividend payout ratio is 191.88%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several large investors have recently added to or reduced their stakes in CBRL. Norges Bank purchased a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter worth approximately $10,727,000. Verition Fund Management LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 423.9% in the 4th 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 last quarter. Armistice Capital LLC purchased a new position in shares of Cracker Barrel Old Country Store during the fourth quarter valued at approximately $3,854,000. Envestnet Asset Management Inc. grew its position in Cracker Barrel Old Country Store by 162.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 74,661 shares of the restaurant operator’s stock valued at $5,017,000 after acquiring an additional 46,232 shares during the last quarter. Finally, Miller Howard Investments Inc. NY bought a new position in shares of Cracker Barrel Old Country Store in the first quarter worth about $2,909,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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.