Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 6.9% After Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price was up 6.9% during trading on Monday after Bank of America raised their price target on the stock from $39.00 to $45.00. Bank of America currently has an underperform rating on the stock. Cracker Barrel Old Country Store traded as high as $59.02 and last traded at $59.20. Approximately 240,262 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 812,128 shares. The stock had previously closed at $55.38.

Several other equities research analysts have also issued reports on the company. Loop Capital lifted their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. Wall Street Zen upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Truist Financial upped their target price on Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup reissued a “sell” rating and issued a $42.00 price target (up from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and an average price target of $53.71.

Insider Buying and Selling at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp bought 105,900 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $35.94 per share, for a total transaction of $3,806,046.00. Following the purchase, the insider now owns 2,452,200 shares in the company, valued at approximately $88,132,068. This represents a 4.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 385,307 shares of company stock worth $15,679,910. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently added to or reduced their stakes in CBRL. Sterling Capital Management LLC increased its stake in shares of Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 487 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter worth $30,000. Smartleaf Asset Management LLC increased its stake in shares of Cracker Barrel Old Country Store by 1,601.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 913 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter worth $56,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Price Performance

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 stock has a market capitalization of $1.35 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45. The firm has a 50 day moving average price of $47.96 and a 200 day moving average price of $50.00.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Thursday, June 5th. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.17 by $0.41. The firm had revenue of $821.10 million during the quarter, compared to analyst estimates of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 18.61% and a net margin of 1.15%. Cracker Barrel Old Country Store’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Friday, July 18th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. Cracker Barrel Old Country Store’s payout ratio is presently 38.76%.

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.