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Category: Cracker Barrel (CBRL)
Date: 16 August 2020 Stock price of Cracker Barrel: $119.71 We take a look at a press release from Cracker Barrel in which they announced a simplified menu largely due to Covid-19 pandemic. New recipes include Maple Bacon Grilled Chicken, Country Fried Pork Chops, Pot Roast Supper and Barrel-Cut Sugar Ham
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These new dinner features were designed to celebrate the craveable, homestyle food our guests love, while delivering on our promise to provide country cooking at a fair price-Cracker Barrel Vice President of Culinary Cammie Spillyards-Schaefer"
More About Cracker Barrel (CBRL)
Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL), established in 1969 in Lebanon, Tenn., provides a friendly home-away-from-home in its old country stores and restaurants. Guests are cared for like family while relaxing and enjoying real home-style food and shopping that’s surprisingly unique, genuinely fun and reminiscent of America’s country heritage…all at a fair price. The restaurants serve up delicious, home-style country food such as meatloaf and homemade chicken n’ dumplins as well as our signature biscuits using an old family recipe. The authentic old country retail store is fun to shop and offers unique gifts and self-indulgences
Press release from Cracker Barrel announcing new menu
LEBANON, Tenn., Aug. 4, 2020 /PRNewswire/ -- Cracker Barrel Old Country Store® today announced the launch of a new, simplified dinner menu, the latest way the brand is offering guests what they have come to expect from Cracker Barrel – generous portions of high-quality, homestyle food offered at an everyday value.
The menu, which was designed to simplify the ordering experience for guests, will also introduce new dinner recipes, including Maple Bacon Grilled Chicken, Country Fried Pork Chops, Pot Roast Supper and Barrel-Cut Sugar Ham. The new scratch-made dishes, made with simple ingredients and authentic preparations, will remind guests of homemade cooking prepared just like grandma used to make.
"These new dinner features were designed to celebrate the craveable, homestyle food our guests love, while delivering on our promise to provide country cooking at a fair price," Cracker Barrel Vice President of Culinary Cammie Spillyards-Schaefer said. "While this menu enhancement has been in progress for some time, according to our research, 66 percent of Americans who visit a casual dining restaurant at least once a quarter say they are craving familiar comfort foods more than ever. The world around us looks a little different right now, but one thing that hasn't changed is the need for comfort and the ability to connect with others in meaningful ways including around the dinner table – and these new dinner dishes are the perfect centerpiece."
Guests will find these new dishes featured across three menu categories – Home Cooked Classics Starting at $7.99, Down Home Daily Dinners Under $10 and Cracker Barrel Favorites:
In addition to the new dinner options, guests also will notice a few updated recipes, such as the Cracker Barrel Sampler, which now offers a hearty portion of Chicken n' Dumplins, full-size Meatloaf and thick Sugar Cured or Country Ham, served with choice of three country sides; Loaded Baked Potato and Loaded Baked Sweet Potato premium sides; as well as 'better for you' options (under 600 calories and less than 15 grams of fat) to satisfy a variety of dietary needs. Available at Cracker Barrel locations nationwide, the company is offering ways for guests to enjoy the new dishes in the comfort of their own home with curbside, pickup or delivery options.
The menu, which was designed to simplify the ordering experience for guests, will also introduce new dinner recipes, including Maple Bacon Grilled Chicken, Country Fried Pork Chops, Pot Roast Supper and Barrel-Cut Sugar Ham. The new scratch-made dishes, made with simple ingredients and authentic preparations, will remind guests of homemade cooking prepared just like grandma used to make.
"These new dinner features were designed to celebrate the craveable, homestyle food our guests love, while delivering on our promise to provide country cooking at a fair price," Cracker Barrel Vice President of Culinary Cammie Spillyards-Schaefer said. "While this menu enhancement has been in progress for some time, according to our research, 66 percent of Americans who visit a casual dining restaurant at least once a quarter say they are craving familiar comfort foods more than ever. The world around us looks a little different right now, but one thing that hasn't changed is the need for comfort and the ability to connect with others in meaningful ways including around the dinner table – and these new dinner dishes are the perfect centerpiece."
Guests will find these new dishes featured across three menu categories – Home Cooked Classics Starting at $7.99, Down Home Daily Dinners Under $10 and Cracker Barrel Favorites:
- Home Cooked Classics include the Maple Bacon Grilled Chicken, complete with two grilled chicken breasts topped with sweet n' smoky maple glaze, bacon and melted cheese, plus choice of two country sides, and buttermilk biscuits or corn muffins.
- Down Home Daily Dinners offer a different meal each day of the week with Saturdays featuring the Country Fried Pork Chops, two crispy hand-breaded fried pork chops smothered in roasted pan gravy, plus choice of two country sides; and Sundays spotlighting the Pot Roast Supper, an oven-braised beef roast with red potatoes, carrots, onions, celery and tomatoes in a savory beef broth – plus, each daily dinner includes a choice of buttermilk biscuits or corn muffins.
- Cracker Barrel Favorites pay homage to Cracker Barrel's signature, craveable dishes highlighted by the introduction of the Barrel-Cut Sugar Ham, a generous portion of Cracker Barrel's extra thick-sliced bone-in Sugar Ham steak, served with choice of three country sides, and buttermilk biscuits or corn muffins.
In addition to the new dinner options, guests also will notice a few updated recipes, such as the Cracker Barrel Sampler, which now offers a hearty portion of Chicken n' Dumplins, full-size Meatloaf and thick Sugar Cured or Country Ham, served with choice of three country sides; Loaded Baked Potato and Loaded Baked Sweet Potato premium sides; as well as 'better for you' options (under 600 calories and less than 15 grams of fat) to satisfy a variety of dietary needs. Available at Cracker Barrel locations nationwide, the company is offering ways for guests to enjoy the new dishes in the comfort of their own home with curbside, pickup or delivery options.
Stock price history of Cracker Barrel (CBRL) over the last 5 years
The image below shows the stock price history of Cracker Barrel (CBRL) over the last 5 years. Over the 5 year period the stock of Cracker Barrel stock price lost -19.98%
Our latest stock valuation of Cracker Barrel (CBRL)
So based on the 3rd quarter 2020 earnings report of Cracker Barrel (NASDAQ: CBRL) and what do we value Cracker Barrel (CBRL) stock at? Based on the earnings reported and the fact that the group is now loss making and that they withdrew their fiscal guidance our valuation model provides a target price (full value price) for Cracker Barrel at $142.10 a stock (down significantly from our 2nd quarter 2020 earnings report valuation of Cracker Barrel).
We therefore believe that Cracker Barrel is undervalued at its current price of $107.69
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target price (full value price) which in this case is $142.10. So a good entry point into Cracker Barrel would be around $127.90. We expect the stock of Cracker Barrel to kick up in coming weeks and months as the various states starts opening up after the covid-19 pandemic.
We therefore believe that Cracker Barrel is undervalued at its current price of $107.69
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target price (full value price) which in this case is $142.10. So a good entry point into Cracker Barrel would be around $127.90. We expect the stock of Cracker Barrel to kick up in coming weeks and months as the various states starts opening up after the covid-19 pandemic.