Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading 6% Higher – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price rose 6% during trading on Friday . The company traded as high as $51.37 and last traded at $51.33. Approximately 76,718 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 738,803 shares. The stock had previously closed at $48.42.

Analyst Ratings Changes

CBRL has been the subject of a number of research analyst reports. Loop Capital reduced 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 report on Friday, September 20th. UBS Group reduced their target price 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. Argus lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Bank of America lifted their target price on Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the stock an “underperform” rating in a report on Friday, September 20th. Finally, StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.57.

Cracker Barrel Old Country Store Stock Down 2.4 %

The company has a quick ratio of 0.21, a current ratio of 0.61 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.05 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.43. The company has a fifty day moving average of $42.83 and a 200 day moving average of $46.10.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.19). The company had revenue of $894.39 million for the quarter, compared to analysts’ expectations of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. Cracker Barrel Old Country Store’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.79 earnings per share. On average, research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.94 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Friday, October 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.00 annualized dividend and a yield of 2.12%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 36.90%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cracker Barrel Old Country Store by 12.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the restaurant operator’s stock valued at $627,000 after acquiring an additional 1,462 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter valued at about $1,016,000. Everence Capital Management Inc. purchased a new position in shares of Cracker Barrel Old Country Store in the third quarter valued at about $306,000. nVerses Capital LLC lifted its position in shares of Cracker Barrel Old Country Store by 26.3% in the third quarter. nVerses Capital LLC now owns 2,400 shares of the restaurant operator’s stock valued at $109,000 after acquiring an additional 500 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Cracker Barrel Old Country Store by 9.1% in the third quarter. Creative Planning now owns 13,799 shares of the restaurant operator’s stock valued at $626,000 after acquiring an additional 1,153 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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.