Zacks Research Analysts Raise Earnings Estimates for Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Rating) – Analysts at Zacks Research increased their Q3 2023 earnings estimates for Cracker Barrel Old Country Store in a research note issued on Tuesday, March 14th. Zacks Research analyst H. Ray now anticipates that the restaurant operator will post earnings per share of $1.32 for the quarter, up from their prior forecast of $1.29. The consensus estimate for Cracker Barrel Old Country Store’s current full-year earnings is $5.85 per share. Zacks Research also issued estimates for Cracker Barrel Old Country Store’s FY2023 earnings at $5.77 EPS, Q2 2024 earnings at $1.50 EPS, Q3 2024 earnings at $1.73 EPS, Q4 2024 earnings at $1.85 EPS and FY2024 earnings at $6.50 EPS.

CBRL has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their target price on Cracker Barrel Old Country Store from $100.00 to $110.00 in a research report on Wednesday, March 1st. Citigroup increased their price target on Cracker Barrel Old Country Store from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Wednesday, March 1st. StockNews.com began coverage on Cracker Barrel Old Country Store in a research note on Thursday. They set a “hold” rating for the company. UBS Group initiated coverage on Cracker Barrel Old Country Store in a research note on Friday, December 16th. They set a “neutral” rating and a $105.00 target price for the company. Finally, CL King increased their price target on Cracker Barrel Old Country Store from $125.00 to $130.00 in a report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $108.00.

Cracker Barrel Old Country Store Stock Performance

NASDAQ:CBRL opened at $110.71 on Friday. The stock has a fifty day moving average price of $109.56 and a 200-day moving average price of $105.96. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 4.67 and a beta of 1.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.26 and a current ratio of 0.66. Cracker Barrel Old Country Store has a fifty-two week low of $81.87 and a fifty-two week high of $126.32.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The restaurant operator reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. Cracker Barrel Old Country Store had a net margin of 3.20% and a return on equity of 23.55%. The business had revenue of $933.90 million for the quarter, compared to analyst estimates of $917.47 million. During the same period last year, the firm earned $1.71 earnings per share. Cracker Barrel Old Country Store’s revenue for the quarter was up 8.3% compared to the same quarter last year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 9th. Shareholders of record on Friday, April 14th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, April 13th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 108.33%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently added to or reduced their stakes in CBRL. Wolf Hill Capital Management LP bought a new stake in Cracker Barrel Old Country Store during the second quarter worth about $24,651,000. Norges Bank bought a new stake in Cracker Barrel Old Country Store during the fourth quarter worth about $18,944,000. Earnest Partners LLC lifted its stake in shares of Cracker Barrel Old Country Store by 8.6% in the 4th quarter. Earnest Partners LLC now owns 1,908,956 shares of the restaurant operator’s stock valued at $180,854,000 after acquiring an additional 151,897 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Cracker Barrel Old Country Store by 1,415.0% in the 2nd quarter. Millennium Management LLC now owns 144,440 shares of the restaurant operator’s stock valued at $12,059,000 after acquiring an additional 134,906 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Cracker Barrel Old Country Store by 266.4% in the 4th quarter. Marshall Wace LLP now owns 174,250 shares of the restaurant operator’s stock valued at $16,508,000 after acquiring an additional 126,695 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

About Cracker Barrel Old Country Store

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Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.