Cracker Barrel Old Country Store (NASDAQ:CBRL) Reaches New 1-Year Low – Should You Sell?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.53 and last traded at $31.3260, with a volume of 825800 shares trading hands. The stock had previously closed at $32.95.

Wall Street Analysts Forecast Growth

CBRL has been the topic of several research analyst reports. Zacks Research lowered shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research note on Friday, September 19th. UBS Group restated a “neutral” rating and issued a $69.00 target price (up from $60.00) on shares of Cracker Barrel Old Country Store in a research note on Monday, July 14th. Citigroup dropped their price target on Cracker Barrel Old Country Store from $47.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, September 18th. Piper Sandler reduced their price objective on Cracker Barrel Old Country Store from $56.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. Finally, Bank of America lowered their target price on Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating on the stock in a research report on Thursday, September 18th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $50.88.

Cracker Barrel Old Country Store Trading Up 2.1%

The company has a quick ratio of 0.21, a current ratio of 0.50 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $42.79 and a 200 day moving average price of $52.53. The stock has a market capitalization of $707.26 million, a PE ratio of 15.34 and a beta of 1.32.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $845.09 million during the quarter. Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. Equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, October 17th. Cracker Barrel Old Country Store’s payout ratio is presently 48.31%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBRL. Assetmark Inc. raised its holdings in shares of Cracker Barrel Old Country Store by 517.3% in the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 419 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth $37,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Cracker Barrel Old Country Store in the 1st quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in Cracker Barrel Old Country Store in the 1st quarter valued at about $30,000. Finally, Byrne Asset Management LLC purchased a new stake in Cracker Barrel Old Country Store during the third quarter valued at about $51,000. 96.01% of the stock is currently owned by hedge funds and other 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 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.