Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Raises Dividend to $3.75 Per Share

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Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) declared a special dividend on Tuesday, May 22nd, RTT News reports. Stockholders of record on Friday, July 13th will be paid a dividend of 3.75 per share by the restaurant operator on Friday, August 3rd. The ex-dividend date of this dividend is Thursday, July 12th. This is a boost from Cracker Barrel Old Country Store’s previous special dividend of $3.50.

Cracker Barrel Old Country Store has raised its dividend by an average of 10.3% annually over the last three years and has increased its dividend every year for the last 8 years. Cracker Barrel Old Country Store has a payout ratio of 50.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cracker Barrel Old Country Store to earn $9.54 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 50.3%.

Shares of Cracker Barrel Old Country Store traded down $2.90, hitting $160.54, on Wednesday, MarketBeat reports. The stock had a trading volume of 187,527 shares, compared to its average volume of 321,861. Cracker Barrel Old Country Store has a twelve month low of $141.75 and a twelve month high of $179.12. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, May 22nd. The restaurant operator reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.08. Cracker Barrel Old Country Store had a net margin of 8.11% and a return on equity of 36.57%. The company had revenue of $721.40 million during the quarter, compared to analyst estimates of $720.05 million. During the same quarter in the previous year, the business earned $1.95 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. research analysts expect that Cracker Barrel Old Country Store will post 9.36 earnings per share for the current year.

CBRL has been the topic of several research reports. ValuEngine cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Telsey Advisory Group cut their price objective on shares of Cracker Barrel Old Country Store from $175.00 to $165.00 and set a “market perform” rating on the stock in a research report on Monday, June 4th. BidaskClub raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Maxim Group reaffirmed a “hold” rating and issued a $170.00 price objective (up from $160.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, May 31st. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $162.50.

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. The company's gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparels, music CDs, cookware, and various other gift items, as well as candies, preserves, pies, cornbread mixes, coffee, syrups, pancake mixes, and other food items.

Dividend History for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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