Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 8.3% After Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded up 8.3% on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $55.00 price target on the stock, up from their previous price target of $51.00. Cracker Barrel Old Country Store traded as high as $46.68 and last traded at $46.38. 325,284 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 802,511 shares. The stock had previously closed at $42.82.

CBRL has been the topic of a number of other reports. Loop Capital reduced their target price on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Piper Sandler upped their price objective on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. Bank of America increased their price target on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, December 5th. Finally, UBS Group lifted their price objective on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.13.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cracker Barrel Old Country Store by 13.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,837 shares of the restaurant operator’s stock worth $1,894,000 after acquiring an additional 4,192 shares during the period. Voloridge Investment Management LLC boosted its stake in shares of Cracker Barrel Old Country Store by 1.1% in the fourth quarter. Voloridge Investment Management LLC now owns 223,976 shares of the restaurant operator’s stock valued at $11,839,000 after purchasing an additional 2,366 shares during the period. Woodline Partners LP acquired a new stake in Cracker Barrel Old Country Store during the 4th quarter valued at $3,990,000. Towle & Co. purchased a new stake in Cracker Barrel Old Country Store during the 4th quarter worth $13,575,000. Finally, Twinbeech Capital LP acquired a new position in Cracker Barrel Old Country Store in the 4th quarter worth $437,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Down 5.5 %

The business’s 50-day simple moving average is $53.54 and its two-hundred day simple moving average is $49.22. 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 company has a market capitalization of $932.65 million, a PE ratio of 23.15, a PEG ratio of 8.36 and a beta of 1.57.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.39%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 62.11%.

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.