Cracker Barrel Old Country Store (CBRL) Lowered to “Hold” at BidaskClub

BidaskClub downgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a buy rating to a hold rating in a research report sent to investors on Friday morning, BidAskClub reports.

CBRL has been the subject of a number of other reports. Maxim Group raised Cracker Barrel Old Country Store from a hold rating to a buy rating and upped their price target for the company from $180.00 to $190.00 in a research note on Thursday, April 11th. Wells Fargo & Co lowered their price target on Cracker Barrel Old Country Store from $157.00 to $150.00 and set a market perform rating for the company in a research note on Wednesday, February 27th. Zacks Investment Research cut Cracker Barrel Old Country Store from a hold rating to a sell rating in a research note on Tuesday, May 7th. Argus reaffirmed a buy rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, February 27th. Finally, ValuEngine cut Cracker Barrel Old Country Store from a buy rating to a hold rating in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $169.82.

Cracker Barrel Old Country Store stock opened at $165.85 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.55 and a current ratio of 0.94. Cracker Barrel Old Country Store has a 1 year low of $141.63 and a 1 year high of $185.00. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.85 and a beta of 0.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, February 26th. The restaurant operator reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. Cracker Barrel Old Country Store had a net margin of 7.09% and a return on equity of 34.20%. The company had revenue of $811.70 million for the quarter, compared to the consensus estimate of $810.49 million. During the same period in the prior year, the company posted $2.73 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Cracker Barrel Old Country Store will post 8.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Friday, April 19th were paid a $1.25 dividend. The ex-dividend date was Wednesday, April 17th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.01%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 56.37%.

In other news, major shareholder Sardar Biglari sold 12,130 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $170.02, for a total value of $2,062,342.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in CBRL. Advisory Services Network LLC grew its stake in shares of Cracker Barrel Old Country Store by 8.3% during the 1st quarter. Advisory Services Network LLC now owns 4,584 shares of the restaurant operator’s stock worth $741,000 after acquiring an additional 350 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth approximately $18,878,000. Merit Financial Group LLC grew its stake in shares of Cracker Barrel Old Country Store by 14.5% during the 1st quarter. Merit Financial Group LLC now owns 3,574 shares of the restaurant operator’s stock worth $577,000 after acquiring an additional 452 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Cracker Barrel Old Country Store by 2.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,043 shares of the restaurant operator’s stock worth $814,000 after acquiring an additional 107 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Cracker Barrel Old Country Store by 54.4% during the 1st quarter. Macquarie Group Ltd. now owns 235,252 shares of the restaurant operator’s stock worth $38,019,000 after acquiring an additional 82,839 shares in the last quarter. 85.86% of the stock is owned by institutional investors.

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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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Analyst Recommendations for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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