Cracker Barrel Old Country Store (NASDAQ:CBRL) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a hold rating to a sell rating in a report issued on Wednesday morning, ValuEngine reports.

Other research analysts have also issued reports about the stock. MKM Partners initiated coverage on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 26th. They set a neutral rating and a $160.00 target price on the stock. Maxim Group set a $195.00 target price on shares of Cracker Barrel Old Country Store and gave the stock a buy rating in a research report on Sunday, September 15th. SunTrust Banks upped their target price on shares of Cracker Barrel Old Country Store from $161.00 to $165.00 and gave the stock a hold rating in a research report on Wednesday, September 18th. Telsey Advisory Group lowered shares of Cracker Barrel Old Country Store from an outperform rating to a market perform rating and lowered their target price for the stock from $190.00 to $170.00 in a research report on Wednesday, June 5th. Finally, BidaskClub upgraded shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $171.22.

Shares of Cracker Barrel Old Country Store stock traded up $2.00 on Wednesday, reaching $161.36. 218,374 shares of the stock were exchanged, compared to its average volume of 391,516. Cracker Barrel Old Country Store has a 1-year low of $146.75 and a 1-year high of $185.00. The company has a current ratio of 0.62, a quick ratio of 0.22 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $163.90 and a two-hundred day moving average price of $165.43. The firm has a market capitalization of $3.88 billion, a PE ratio of 17.41, a PEG ratio of 1.71 and a beta of 0.60.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.27. Cracker Barrel Old Country Store had a net margin of 7.27% and a return on equity of 36.01%. The business had revenue of $787.10 million for the quarter, compared to analyst estimates of $781.90 million. During the same period in the previous year, the business posted $2.19 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Research analysts expect that Cracker Barrel Old Country Store will post 9.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 18th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $5.20 annualized dividend and a dividend yield of 3.22%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 56.09%.

In other news, CEO Sandra B. Cochran sold 9,007 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 153,514 shares in the company, valued at $25,475,648.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sardar Biglari sold 75,910 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.46, for a total transaction of $13,243,258.60. The disclosure for this sale can be found here. Insiders sold 322,697 shares of company stock worth $55,418,693 over the last quarter. Company insiders own 0.88% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CBRL. State of Alaska Department of Revenue lifted its stake in shares of Cracker Barrel Old Country Store by 29.1% during the third quarter. State of Alaska Department of Revenue now owns 4,274 shares of the restaurant operator’s stock valued at $695,000 after buying an additional 964 shares during the period. Rowland & Co. Investment Counsel ADV lifted its stake in shares of Cracker Barrel Old Country Store by 95.9% during the third quarter. Rowland & Co. Investment Counsel ADV now owns 1,773 shares of the restaurant operator’s stock valued at $289,000 after buying an additional 868 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Cracker Barrel Old Country Store by 18.7% during the second quarter. Macquarie Group Ltd. now owns 279,346 shares of the restaurant operator’s stock valued at $47,692,000 after buying an additional 44,094 shares during the period. Royal Bank of Canada lifted its stake in shares of Cracker Barrel Old Country Store by 18.9% during the second quarter. Royal Bank of Canada now owns 61,743 shares of the restaurant operator’s stock valued at $10,541,000 after buying an additional 9,833 shares during the period. Finally, UBS Group AG lifted its stake in shares of Cracker Barrel Old Country Store by 11.1% during the second quarter. UBS Group AG now owns 42,078 shares of the restaurant operator’s stock valued at $7,184,000 after buying an additional 4,221 shares during the period. Institutional investors and hedge funds own 85.00% 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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