Wells Fargo & Co Lowers Cracker Barrel Old Country Store (CBRL) Price Target to $139.00

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Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price lowered by Wells Fargo & Co from $140.00 to $139.00 in a report issued on Wednesday, September 19th. The brokerage currently has a market perform rating on the restaurant operator’s stock.

Several other equities analysts also recently issued reports on the stock. Maxim Group decreased their price objective on shares of Cracker Barrel Old Country Store from $187.00 to $175.00 and set a buy rating on the stock in a report on Wednesday, September 19th. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a report on Friday, August 17th. SunTrust Banks reduced their target price on shares of Cracker Barrel Old Country Store to $146.00 and set a positive rating for the company in a research report on Thursday, September 6th. BidaskClub upgraded shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Friday, September 7th. Finally, ValuEngine upgraded shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $158.00.

NASDAQ CBRL traded up $0.47 during mid-day trading on Wednesday, reaching $150.31. 436,220 shares of the stock were exchanged, compared to its average volume of 330,078. Cracker Barrel Old Country Store has a 1 year low of $141.63 and a 1 year high of $179.12. The company has a market capitalization of $3.53 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.41 and a current ratio of 0.84.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, September 18th. The restaurant operator reported $2.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.69 by ($0.14). The firm had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $824.86 million. Cracker Barrel Old Country Store had a return on equity of 35.81% and a net margin of 8.17%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $2.23 earnings per share. On average, equities analysts expect that Cracker Barrel Old Country Store will post 8.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Friday, October 19th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 18th. Cracker Barrel Old Country Store’s payout ratio is currently 56.37%.

In other Cracker Barrel Old Country Store news, VP Laura A. Daily sold 2,740 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $145.60, for a total transaction of $398,944.00. Following the completion of the transaction, the vice president now owns 11,392 shares of the company’s stock, valued at $1,658,675.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Nicholas V. Flanagan sold 6,000 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $145.81, for a total transaction of $874,860.00. Following the transaction, the vice president now directly owns 18,784 shares of the company’s stock, valued at approximately $2,738,895.04. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in CBRL. Advisors Asset Management Inc. boosted its stake in Cracker Barrel Old Country Store by 1,039.7% during the second quarter. Advisors Asset Management Inc. now owns 692,385 shares of the restaurant operator’s stock worth $7,630,000 after buying an additional 631,635 shares during the period. Marshall Wace LLP boosted its stake in Cracker Barrel Old Country Store by 10,673.7% during the second quarter. Marshall Wace LLP now owns 258,569 shares of the restaurant operator’s stock worth $40,391,000 after buying an additional 256,169 shares during the period. Darrell & King LLC purchased a new position in shares of Cracker Barrel Old Country Store in the first quarter valued at approximately $30,679,000. BlackRock Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 5.3% in the second quarter. BlackRock Inc. now owns 2,513,796 shares of the restaurant operator’s stock valued at $392,679,000 after purchasing an additional 127,574 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new position in shares of Cracker Barrel Old Country Store in the first quarter valued at approximately $16,807,000. 87.45% of the stock is owned by institutional investors.

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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