Cracker Barrel Old Country Store (NASDAQ:CBRL) Sees Strong Trading Volume After Better-Than-Expected Earnings

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 186,015 shares were traded during mid-day trading, a decline of 64% from the previous session’s volume of 512,547 shares.The stock last traded at $75.79 and had previously closed at $74.18.

The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.18. Cracker Barrel Old Country Store had a net margin of 2.76% and a return on equity of 24.04%. The firm had revenue of $836.70 million during the quarter, compared to analyst estimates of $841.59 million. During the same period in the previous year, the business posted $1.57 EPS. Cracker Barrel Old Country Store’s revenue was up .8% on a year-over-year basis.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 20th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 7.23%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 122.64%.

Wall Street Analyst Weigh In

CBRL has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Cracker Barrel Old Country Store in a research report on Monday, July 17th. They set a “neutral” rating and a $96.00 price target on the stock. CL King dropped their price target on shares of Cracker Barrel Old Country Store from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, September 5th. Truist Financial dropped their price target on shares of Cracker Barrel Old Country Store from $97.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Citigroup dropped their target price on shares of Cracker Barrel Old Country Store from $79.00 to $77.00 in a report on Sunday, September 3rd. Finally, StockNews.com initiated coverage on shares of Cracker Barrel Old Country Store in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $99.86.

Institutional Trading of Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently made changes to their positions in CBRL. Compass Wealth Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the fourth quarter valued at approximately $28,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Cracker Barrel Old Country Store during the second quarter valued at approximately $34,000. Belpointe Asset Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the fourth quarter valued at approximately $35,000. Strs Ohio acquired a new stake in shares of Cracker Barrel Old Country Store during the first quarter valued at approximately $45,000. Finally, Parallel Advisors LLC raised its holdings in shares of Cracker Barrel Old Country Store by 158.3% during the first quarter. Parallel Advisors LLC now owns 434 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 266 shares during the period. 93.66% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Price Performance

The stock’s fifty day moving average price is $87.57 and its 200-day moving average price is $98.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.61 and a quick ratio of 0.20. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37.

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. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as dine-in, pick-up, and delivery services.