Cracker Barrel Old Country Store (NASDAQ:CBRL) Releases Earnings Results, Beats Estimates By $0.11 EPS

Cracker Barrel Old Country Store (NASDAQ:CBRL) announced its quarterly earnings results on Wednesday. The restaurant operator reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.11, MarketWatch Earnings reports. Cracker Barrel Old Country Store had a return on equity of 25.24% and a net margin of 2.88%. The company had revenue of $836.70 million during the quarter, compared to analysts’ expectations of $841.59 million. During the same period in the prior year, the company earned $1.57 EPS. Cracker Barrel Old Country Store’s revenue was up .8% compared to the same quarter last year. Cracker Barrel Old Country Store updated its Q1 2024 guidance to EPS.

Cracker Barrel Old Country Store Stock Down 1.6 %

CBRL stock traded down $1.16 during mid-day trading on Friday, reaching $69.37. 230,475 shares of the company traded hands, compared to its average volume of 525,508. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.89 and a beta of 1.37. The company has a quick ratio of 0.20, a current ratio of 0.58 and a debt-to-equity ratio of 0.86. Cracker Barrel Old Country Store has a fifty-two week low of $68.71 and a fifty-two week high of $121.17. The firm’s 50 day moving average price is $87.16 and its 200 day moving average price is $98.52.

Cracker Barrel Old Country Store Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 20th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $5.20 dividend on an annualized basis and a yield of 7.50%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 116.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TheStreet cut Cracker Barrel Old Country Store from a “b-” rating to a “c+” rating in a research note on Tuesday, June 13th. Truist Financial lowered their target price on Cracker Barrel Old Country Store from $85.00 to $79.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com started coverage on Cracker Barrel Old Country Store in a research report on Thursday, August 17th. They set a “hold” rating for the company. Bank of America lowered their target price on Cracker Barrel Old Country Store from $90.00 to $75.00 and set an “underperform” rating for the company in a research report on Thursday. Finally, Piper Sandler started coverage on Cracker Barrel Old Country Store in a research report on Monday, July 17th. They set a “neutral” rating and a $96.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.44.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently added to or reduced their stakes in CBRL. Raymond James & Associates boosted its stake in Cracker Barrel Old Country Store by 12.7% during the 1st quarter. Raymond James & Associates now owns 32,445 shares of the restaurant operator’s stock valued at $3,852,000 after purchasing an additional 3,657 shares during the last quarter. US Bancorp DE boosted its stake in shares of Cracker Barrel Old Country Store by 31.9% in the 1st quarter. US Bancorp DE now owns 2,489 shares of the restaurant operator’s stock worth $296,000 after buying an additional 602 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Cracker Barrel Old Country Store by 3.6% in the 1st quarter. HighTower Advisors LLC now owns 6,375 shares of the restaurant operator’s stock worth $761,000 after buying an additional 221 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Cracker Barrel Old Country Store by 7.1% in the 1st quarter. Bank of Montreal Can now owns 5,661 shares of the restaurant operator’s stock worth $674,000 after buying an additional 373 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Cracker Barrel Old Country Store by 40.6% in the 1st quarter. MetLife Investment Management LLC now owns 27,563 shares of the restaurant operator’s stock worth $3,273,000 after buying an additional 7,963 shares during the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.

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. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as dine-in, pick-up, and delivery services.