Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to Issue $0.25 Quarterly Dividend

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Investors of record on Friday, October 18th will be paid a dividend of 0.25 per share by the restaurant operator on Wednesday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, October 18th.

Cracker Barrel Old Country Store has increased its dividend by an average of 26.0% per year over the last three years. Cracker Barrel Old Country Store has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cracker Barrel Old Country Store to earn $3.63 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.5%.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ:CBRL opened at $47.71 on Thursday. The company’s fifty day moving average price is $41.50 and its 200-day moving average price is $47.04. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.23 and a beta of 1.43. Cracker Barrel Old Country Store has a one year low of $34.88 and a one year high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The firm had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. During the same period in the prior year, the company earned $1.79 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cracker Barrel Old Country Store will post 2.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

CBRL has been the subject of a number of recent research reports. Loop Capital dropped their target price on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Argus lowered shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Bank of America increased their target price on shares of Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the company an “underperform” rating in a report on Friday, September 20th. UBS Group lowered their price target on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, September 19th. Finally, StockNews.com upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.57.

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.