Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Declares $0.25 Quarterly Dividend

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) announced a quarterly dividend on Thursday, March 6th, RTT News reports. Stockholders of record on Friday, April 11th will be given a dividend of 0.25 per share by the restaurant operator on Wednesday, May 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, April 11th.

Cracker Barrel Old Country Store has decreased its dividend payment by an average of 17.1% per year over the last three years. Cracker Barrel Old Country Store has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cracker Barrel Old Country Store to earn $3.10 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 32.3%.

Cracker Barrel Old Country Store Stock Performance

NASDAQ:CBRL traded down $0.52 during mid-day trading on Friday, hitting $42.82. 1,800,534 shares of the company's stock traded hands, compared to its average volume of 818,501. The firm has a 50 day moving average of $53.73 and a two-hundred day moving average of $49.15. Cracker Barrel Old Country Store has a 12 month low of $34.88 and a 12 month high of $74.21. The firm has a market capitalization of $953.13 million, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 8.36 and a beta of 1.57. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20.

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Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler increased their target price on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. StockNews.com upgraded Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research note on Sunday, March 2nd. Bank of America increased their target price on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, December 5th. Loop Capital reduced their price objective on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating for the company in a research report on Friday. Finally, UBS Group raised their price objective on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $56.63.

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.