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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares 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. Investors of record on Friday, October 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 18th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 36.90%.

Wall Street Analysts Forecast Growth

CBRL has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday. Argus cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Loop Capital lowered their price objective on 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. Finally, Bank of America boosted their price objective 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. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.57.

Cracker Barrel Old Country Store Stock Up 1.1 %

The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. The stock has a 50 day simple moving average of $40.93 and a 200 day simple moving average of $50.10. The stock has a market cap of $922.94 million, a price-to-earnings ratio of 15.34, a PEG ratio of 0.94 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The business had revenue of $894.39 million for the quarter, compared to the consensus estimate of $898.94 million. During the same quarter last year, the firm posted $1.79 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts expect that Cracker Barrel Old Country Store, Inc. will post 3.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. lifted its stake in Cracker Barrel Old Country Store by 200.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. CWM LLC boosted its holdings in Cracker Barrel Old Country Store by 96.3% during the second quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 419 shares during the last quarter. GAMMA Investing LLC grew its position in 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 purchasing an additional 1,051 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Cracker Barrel Old Country Store in the 1st quarter worth about $73,000. Finally, nVerses Capital LLC increased its stake in Cracker Barrel Old Country Store by 375.0% in the 2nd quarter. nVerses Capital LLC now owns 1,900 shares of the restaurant operator’s stock valued at $80,000 after buying an additional 1,500 shares during the last quarter. Institutional investors 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.