Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Plans Quarterly Dividend of $1.30

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) declared a quarterly dividend on Thursday, February 22nd, RTT News reports. Stockholders of record on Friday, April 12th will be paid a dividend of 1.30 per share by the restaurant operator on Tuesday, May 7th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date is Thursday, April 11th.

Cracker Barrel Old Country Store has increased its dividend payment by an average of 26.0% annually over the last three years. Cracker Barrel Old Country Store has a dividend payout ratio of 102.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cracker Barrel Old Country Store to earn $5.18 per share next year, which means the company may not be able to cover its $5.20 annual dividend with an expected future payout ratio of 100.4%.

Cracker Barrel Old Country Store Trading Down 1.7 %

NASDAQ CBRL opened at $65.31 on Wednesday. The business has a 50 day simple moving average of $70.81 and a 200 day simple moving average of $71.77. Cracker Barrel Old Country Store has a one year low of $62.69 and a one year high of $121.17. The stock has a market capitalization of $1.45 billion, a P/E ratio of 17.42, a P/E/G ratio of 4.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.58 and a quick ratio of 0.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. Cracker Barrel Old Country Store had a return on equity of 23.13% and a net margin of 2.43%. The business had revenue of $935.40 million during the quarter, compared to analysts’ expectations of $917.83 million. During the same quarter last year, the firm posted $1.48 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Research analysts expect that Cracker Barrel Old Country Store will post 4.62 earnings per share for the current year.

Institutional Trading of Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cracker Barrel Old Country Store by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,223 shares of the restaurant operator’s stock worth $943,000 after purchasing an additional 966 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Cracker Barrel Old Country Store by 0.9% in the 4th quarter. Nuveen Asset Management LLC now owns 61,503 shares of the restaurant operator’s stock worth $4,741,000 after acquiring an additional 578 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Cracker Barrel Old Country Store by 68.0% in the 4th quarter. Public Sector Pension Investment Board now owns 45,986 shares of the restaurant operator’s stock worth $3,545,000 after acquiring an additional 18,607 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter worth approximately $294,000. Finally, Comerica Bank grew its stake in shares of Cracker Barrel Old Country Store by 2.5% in the 4th quarter. Comerica Bank now owns 8,587 shares of the restaurant operator’s stock worth $662,000 after buying an additional 208 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CBRL. Citigroup lifted their target price on Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the company a “sell” rating in a research report on Wednesday, February 28th. UBS Group cut their target price on Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler dropped their price target on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, March 4th. Finally, Truist Financial dropped their price target on Cracker Barrel Old Country Store from $75.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.14.

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.