Cracker Barrel Old Country Store Inc. ( CBRL ) shares are trading lower Thursday following the company’s quarterly results. Multiple analysts also cut price targets after the report. Here’s what you need to know.

What To Know: Cracker Barrel reported mixed results for the fourth quarter, with revenue of $868.09 million beating estimates of $855.30 million, but adjusted earnings per share of 74 cents missing analyst estimates of 80 cents.

Cracker Barrel guided for fiscal 2026 revenue in the range of $3.35 billion to $3.45 billion versus estimates of $3.47 billion, according to Benzinga Pro.

The company’s CEO, Julie Masino, said she expects marketing to be a higher percentage of sales this year as they dig back into the old-timey feel of the company’s brand. Cracker Barrel faced backlash from customers last month in response to a rebranding campaign and simplified logo.

Masino said while traffic overall took a hit, the company’s loyalty sign-ups program is actually ahead of schedule, with three-quarters of the sign-ups coming after the logo first changed over. For the upcoming fiscal year, the company expects annual traffic to drop between 4% and 7%.

Analysts React: Several analysts lowered price targets following the company’s quarterly results.

BofA Securities analyst Sara Senatore maintained an Underperform and lowered the price target from $48 to $42.

Piper Sandler analyst Brian Mullan maintained a Neutral and lowered the price target from $56 to $49.

Truist Securities analyst Jake Bartlett maintained a Buy and lowered the price target from $62 to $58.

Citigroup analyst Jon Tower maintained a Sell and lowered the price target from $47 to $42.

CBRL Price Action: Cracker Barrel’s stock was down 6.24% at $46.47 at publication time on Thursday, according to Benzinga Pro.

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