Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 4.1% Following Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shot up 4.1% during trading on Friday after Bank of America raised their price target on the stock from $42.00 to $45.00. Bank of America currently has an underperform rating on the stock. Cracker Barrel Old Country Store traded as high as $50.04 and last traded at $50.04. 59,852 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 730,403 shares. The stock had previously closed at $48.07.

Several other research firms also recently commented on CBRL. Loop Capital decreased their target price on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. UBS Group decreased their target price on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. Argus lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Truist Financial raised their price objective on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.57.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund Corp lifted its position in shares of Cracker Barrel Old Country Store by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 19,416 shares of the restaurant operator’s stock worth $1,412,000 after purchasing an additional 274 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Cracker Barrel Old Country Store by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock worth $324,000 after acquiring an additional 306 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Cracker Barrel Old Country Store in the first quarter worth $411,000. Vanguard Group Inc. lifted its position in Cracker Barrel Old Country Store by 0.3% during the 1st 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. Finally, Edgestream Partners L.P. acquired a new stake in shares of Cracker Barrel Old Country Store during the first quarter worth about $838,000. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.21 and a debt-to-equity ratio of 1.08. The firm has a 50-day simple moving average of $44.92 and a two-hundred day simple moving average of $45.04. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.29 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.19). Cracker Barrel Old Country Store had a return on equity of 18.65% and a net margin of 1.18%. The business had revenue of $894.39 million during the quarter, compared to analysts’ expectations of $898.94 million. During the same period in the prior year, the business posted $1.79 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.94 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Friday, October 18th were issued a $0.25 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.03%. Cracker Barrel Old Country Store’s payout ratio is 54.35%.

Cracker Barrel Old Country Store Company Profile

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.