Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Given Consensus Rating of “Reduce” by Brokerages

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) have been assigned a consensus recommendation of “Reduce” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $35.25.

CBRL has been the topic of a number of recent analyst reports. Zacks Research upgraded Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Citigroup decreased their price objective on shares of Cracker Barrel Old Country Store from $24.00 to $20.00 and set a “sell” rating on the stock in a report on Wednesday, December 10th. Wells Fargo & Company dropped their target price on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 10th. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, December 29th.

Insider Activity

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $25.56, for a total transaction of $1,083,744.00. Following the completion of the sale, the insider directly owned 2,240,200 shares in the company, valued at approximately $57,259,512. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 381,500 shares of company stock valued at $10,258,409 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBRL. Nisa Investment Advisors LLC raised its position in shares of Cracker Barrel Old Country Store by 17.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 13,040 shares of the restaurant operator’s stock valued at $331,000 after buying an additional 1,948 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Cracker Barrel Old Country Store by 81.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 69,514 shares of the restaurant operator’s stock valued at $1,766,000 after acquiring an additional 31,104 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cracker Barrel Old Country Store by 6.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 168,834 shares of the restaurant operator’s stock valued at $7,439,000 after acquiring an additional 10,590 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Cracker Barrel Old Country Store in the 3rd quarter worth approximately $26,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter worth approximately $2,459,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Price Performance

NASDAQ:CBRL opened at $34.51 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. Cracker Barrel Old Country Store has a 52 week low of $24.85 and a 52 week high of $71.93. The stock’s 50-day moving average price is $28.15 and its 200-day moving average price is $43.40. The stock has a market capitalization of $770.61 million, a PE ratio of 46.01 and a beta of 1.27.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Cracker Barrel Old Country Store had a return on equity of 9.74% and a net margin of 0.49%.The company had revenue of $797.19 million during the quarter, compared to analysts’ expectations of $806.71 million. During the same quarter in the prior year, the firm posted $0.45 EPS. Cracker Barrel Old Country Store’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts expect that Cracker Barrel Old Country Store will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Friday, January 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, January 16th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 133.33%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.