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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price rose 4.1% during mid-day 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. Approximately 59,852 shares traded hands during trading, a decline of 92% from the average daily volume of 730,403 shares. The stock had previously closed at $48.07.

CBRL has been the subject of several other reports. UBS Group lowered their price target on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, September 19th. StockNews.com upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Truist Financial increased their target price on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. 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 note on Friday, September 20th. Finally, Argus downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, Cracker Barrel Old Country Store has an average rating of “Hold” and an average target price of $54.57.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CBRL. Hazlett Burt & Watson Inc. increased its position in shares of Cracker Barrel Old Country Store by 200.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock worth $25,000 after buying an additional 400 shares during the period. CWM LLC raised 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 3rd quarter valued at about $45,000. GAMMA Investing LLC boosted its position in shares of Cracker Barrel Old Country Store by 447.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,286 shares of the restaurant operator’s stock valued at $54,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Cracker Barrel Old Country Store by 22.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 247 shares during the period. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

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 stock has a fifty day simple moving average of $45.15 and a two-hundred day simple moving average of $44.97. The firm has a market capitalization of $1.08 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.29 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data 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). The company had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 EPS. On average, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.94 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Friday, October 18th were given a dividend of $0.25 per share. The ex-dividend date was Friday, October 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 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.