Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 11.7% – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded up 11.7% on Monday . The company traded as high as $54.06 and last traded at $54.06. 243,421 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 727,519 shares. The stock had previously closed at $48.41.

Analyst Ratings Changes

Several equities analysts recently issued reports on CBRL shares. Bank of America raised their price objective on Cracker Barrel Old Country Store from $42.00 to $45.00 and gave the stock an “underperform” rating in a research note on Friday, November 15th. UBS Group reduced their price target on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, September 19th. Loop Capital lowered their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Piper Sandler raised their target price on shares of Cracker Barrel Old Country Store from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Finally, StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.25.

Cracker Barrel Old Country Store Price Performance

The business has a fifty day moving average price of $46.64 and a 200 day moving average price of $44.48. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.19). The company had revenue of $894.39 million for the quarter, compared to analyst estimates of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.58%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 EPS. On average, research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.96 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Friday, October 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, October 18th. Cracker Barrel Old Country Store’s payout ratio is currently 55.25%.

Institutional Trading of Cracker Barrel Old Country Store

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Cracker Barrel Old Country Store by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock worth $190,263,000 after acquiring an additional 6,804 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cracker Barrel Old Country Store by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock valued at $48,752,000 after purchasing an additional 111,892 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at about $25,636,000. Verition Fund Management LLC grew its stake in shares of Cracker Barrel Old Country Store by 96.0% in the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock worth $7,299,000 after purchasing an additional 78,816 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Cracker Barrel Old Country Store by 0.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator’s stock worth $4,536,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

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.