Cracker Barrel Old Country Store (CBRL) is Downgraded by BofA/Merrill to Underperform

Cracker Barrel Old Country Store (CBRL) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Cracker Barrel Old Country Store. Company shares were Downgraded by Telsey Advisory Group on Jun 2, 2016 to ” Market Perform”, Firm has raised the Price Target to $ 172 from a previous price target of $160 .

On the company’s financial health, Cracker Barrel Old Country Store reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 1, 2016. Analyst had a consensus of $1.80. The company had revenue of $700.01 million for the quarter, compared to analysts expectations of $705.60 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS.

Cracker Barrel Old Country Store closed down -3.23 points or -1.92% at $164.7 with 5,00,504 shares getting traded on Friday. Post opening the session at $168.37, the shares hit an intraday low of $164.54 and an intraday high of $168.9515 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Jun 1, 2016, Cracker Barrel Old Country Store announced a cash dividend of $1.1500. The company’s management has announced Jul 13, 2016 as the ex-dividend date and fixed the record date on Jul 15, 2016. The payable date has been fixed on Aug 5, 2016.

In a different news, on Jun 22, 2016, Laura A Daily (Sr. VP, Retail Operations) sold 600 shares at $168.75 per share price. According to the SEC, on Mar 4, 2016, Richard J Dobkin (director) sold 2,000 shares at $148.20 per share price. On Nov 16, 2015, Andrea Weiss (director) sold 315 shares at $132.19 per share price, according to the Form-4 filing with the securities and exchange commission.

Cracker Barrel Old Country Store Inc. is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). Each Cracker Barrel store consists of a restaurant with a gift shop. The format of its stores consists of a trademarked rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items such as rocking chairs holiday and seasonal gifts and toys apparel cookware and foods. Its restaurants offer home-style country cooking featuring its own recipes. Its breakfast items include juices eggs pancakes fruit and yogurt parfaits grits and a range of biscuit specialties such as gravy and biscuits and country ham and biscuits. Its lunch and dinner items include country ham chicken and dumplings chicken fried chicken meatloaf roast beef vegetable plates a range of salads sandwiches soups fresh side items and specialty items among others.

Cracker Barrel Old Country Store

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