Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up After Dividend Announcement

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $41.56, but opened at $43.96. Cracker Barrel Old Country Store shares last traded at $43.35, with a volume of 165,206 shares traded.

The newly announced dividend which will be paid on Wednesday, November 13th. Stockholders of record on Friday, October 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 36.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group lowered their target price on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday. Benchmark upgraded Cracker Barrel Old Country Store to a “hold” rating in a research note on Monday, June 3rd. Citigroup lowered their target price on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a research note on Friday, May 31st. Bank of America increased their target price on Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the company an “underperform” rating in a research note on Friday. Finally, Argus lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and a consensus target price of $53.57.

Cracker Barrel Old Country Store Trading Up 1.1 %

The business has a 50 day simple moving average of $40.93 and a two-hundred day simple moving average of $50.10. The company has a current ratio of 0.63, a quick ratio of 0.23 and a debt-to-equity ratio of 1.11. The stock has a market cap of $922.94 million, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). The business 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 1.77% and a return on equity of 22.11%. Cracker Barrel Old Country Store’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS. As a group, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 3.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its position in shares of Cracker Barrel Old Country Store by 200.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 400 shares in the last quarter. CWM LLC grew its position in shares of Cracker Barrel Old Country Store by 96.3% in the 2nd quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 419 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 1st quarter worth approximately $73,000. Security National Bank acquired a new position in shares of Cracker Barrel Old Country Store in the 4th quarter worth approximately $81,000. Finally, GAMMA Investing LLC grew its position in shares of Cracker Barrel Old Country Store by 447.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,286 shares of the restaurant operator’s stock worth $54,000 after acquiring an additional 1,051 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.