Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 8.3% After Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded up 8.3% on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $55.00 price target on the stock, up from their previous price target of $51.00. Cracker Barrel Old Country Store traded as high as $46.68 and last traded at $46.38. 325,284 shares changed hands during trading, a decline of 59% from the average session volume of 802,511 shares. The stock had previously closed at $42.82.

CBRL has been the subject of several other reports. UBS Group lifted their price objective on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Citigroup raised their target price on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the company a “sell” 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 report on Sunday, March 2nd. Bank of America lifted their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, December 5th. Finally, Argus raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Monday, November 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.13.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several institutional investors have recently bought and sold shares of CBRL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cracker Barrel Old Country Store by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,837 shares of the restaurant operator’s stock worth $1,894,000 after purchasing an additional 4,192 shares in the last quarter. Voloridge Investment Management LLC increased its position in Cracker Barrel Old Country Store by 1.1% during the 4th quarter. Voloridge Investment Management LLC now owns 223,976 shares of the restaurant operator’s stock valued at $11,839,000 after buying an additional 2,366 shares in the last quarter. Woodline Partners LP acquired a new position in Cracker Barrel Old Country Store during the 4th quarter valued at about $3,990,000. Towle & Co. purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at about $13,575,000. Finally, Twinbeech Capital LP acquired a new stake in Cracker Barrel Old Country Store in the fourth quarter worth about $437,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Price Performance

The firm has a market cap of $986.96 million, a PE ratio of 24.50, a price-to-earnings-growth ratio of 8.36 and a beta of 1.57. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average price of $53.73 and a two-hundred day moving average price of $49.20.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, April 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 62.11%.

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.