Cracker Barrel Old Country Store (NASDAQ:CBRL) Upgraded by BidaskClub to “Hold”

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BidaskClub upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a sell rating to a hold rating in a research report released on Wednesday, September 18th, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Cracker Barrel Old Country Store from a sell rating to a hold rating in a report on Thursday, May 23rd. Wells Fargo & Co reissued an in-line rating and set a $150.00 target price (down previously from $156.00) on shares of Cracker Barrel Old Country Store in a research note on Wednesday, September 11th. Maxim Group set a $195.00 target price on Cracker Barrel Old Country Store and gave the stock a buy rating in a research note on Sunday, September 15th. SunTrust Banks cut their target price on Cracker Barrel Old Country Store to $161.00 and set a hold rating for the company in a research note on Wednesday, June 5th. Finally, ValuEngine cut Cracker Barrel Old Country Store from a buy rating to a hold rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Cracker Barrel Old Country Store has an average rating of Hold and an average price target of $171.22.

CBRL stock traded up $0.18 during mid-day trading on Wednesday, reaching $158.81. 263,920 shares of the company’s stock were exchanged, compared to its average volume of 462,452. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. The stock’s 50 day moving average is $163.24 and its 200 day moving average is $165.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.22. Cracker Barrel Old Country Store has a 12-month low of $149.10 and a 12-month high of $185.00.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.27. Cracker Barrel Old Country Store had a return on equity of 36.01% and a net margin of 7.27%. The business had revenue of $787.10 million for the quarter, compared to the consensus estimate of $781.90 million. During the same quarter last year, the business posted $2.19 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts forecast that Cracker Barrel Old Country Store will post 9.37 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 18th will be issued a $1.30 dividend. The ex-dividend date is Thursday, October 17th. This represents a $5.20 dividend on an annualized basis and a yield of 3.27%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 56.09%.

In other news, CEO Sandra B. Cochran sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.04, for a total value of $3,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 153,828 shares of the company’s stock, valued at approximately $25,233,945.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandra B. Cochran sold 9,007 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $165.95, for a total value of $1,494,711.65. Following the completion of the transaction, the chief executive officer now owns 153,514 shares in the company, valued at approximately $25,475,648.30. The disclosure for this sale can be found here. Insiders have sold a total of 97,637 shares of company stock valued at $16,451,534 over the last ninety days. 0.88% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBRL. Marshall Wace LLP increased its position in Cracker Barrel Old Country Store by 69.1% during the 1st quarter. Marshall Wace LLP now owns 353,035 shares of the restaurant operator’s stock worth $57,054,000 after purchasing an additional 144,284 shares during the period. Nordea Investment Management AB purchased a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth $18,878,000. Nuveen Asset Management LLC purchased a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth $13,037,000. Man Group plc purchased a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth $12,724,000. Finally, APG Asset Management N.V. lifted its stake in shares of Cracker Barrel Old Country Store by 17.4% during the 2nd quarter. APG Asset Management N.V. now owns 391,900 shares of the restaurant operator’s stock worth $58,754,000 after purchasing an additional 58,100 shares during the period. Institutional investors own 84.96% 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 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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