Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading 4.1% Higher Following Analyst Upgrade

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

CBRL has been the subject of a number of other reports. Truist Financial lifted their price target on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a report on Friday. Argus cut Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. UBS Group dropped their price objective on 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. Finally, Loop Capital decreased their target price on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $54.57.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in shares of Cracker Barrel Old Country Store by 22.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 247 shares during the period. MML Investors Services LLC acquired a new position in Cracker Barrel Old Country Store during the 3rd quarter worth approximately $213,000. iSAM Funds UK Ltd acquired a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter valued at approximately $238,000. Point72 DIFC Ltd acquired a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter worth about $264,000. Finally, Point72 Asset Management L.P. acquired a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at about $2,526,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Price Performance

The company has a 50 day moving average price of $45.15 and a 200 day moving average price of $44.88. The company has a current ratio of 0.61, a quick ratio of 0.21 and a debt-to-equity ratio of 1.08. The company 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 posted its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The business had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. During the same quarter last year, the company posted $1.79 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.94 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Friday, October 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, October 18th. Cracker Barrel Old Country Store’s dividend payout ratio is 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.