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 $40.29, but opened at $50.96. Cracker Barrel Old Country Store shares last traded at $48.85, with a volume of 538,612 shares trading hands.

The newly announced dividend which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 55.25%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CBRL shares. Piper Sandler boosted their price target on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Loop Capital raised their price target on Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Bank of America boosted 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. Truist Financial increased their price target on shares of Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.63.

Cracker Barrel Old Country Store Stock Up 7.6 %

The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The business has a 50-day moving average price of $54.28 and a 200-day moving average price of $49.12. The stock has a market cap of $964.71 million, a PE ratio of 23.94, a price-to-earnings-growth ratio of 8.36 and a beta of 1.48.

Institutional Trading of Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of Cracker Barrel Old Country Store by 151.9% during the fourth quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator’s stock worth $40,544,000 after buying an additional 462,542 shares in the last quarter. Towle & Co. purchased a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at approximately $13,575,000. Cibc World Market Inc. purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $11,711,000. Charles Schwab Investment Management Inc. lifted its stake in Cracker Barrel Old Country Store by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after acquiring an additional 111,892 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth about $4,498,000. Hedge funds and other 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.