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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price shot up 4.1% during mid-day 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.

Other equities research analysts also recently issued research reports about the company. 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. StockNews.com upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Truist Financial raised their price target on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. UBS Group decreased 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. Finally, Argus downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.57.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently added to or reduced their stakes in CBRL. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter valued at approximately $79,000. Maverick Capital Ltd. bought a new position in Cracker Barrel Old Country Store in the third quarter valued at $4,498,000. PDT Partners LLC raised its holdings in Cracker Barrel Old Country Store by 199.3% during the third quarter. PDT Partners LLC now owns 29,925 shares of the restaurant operator’s stock worth $1,357,000 after acquiring an additional 19,925 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 96.0% in the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock valued at $7,299,000 after buying an additional 78,816 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter worth approximately $236,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

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 stock has a market cap of $1.09 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The stock’s 50-day simple moving average is $44.92 and its 200-day simple moving average is $45.04.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its 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). The company had revenue of $894.39 million during the quarter, compared to analyst estimates of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 EPS. Analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.94 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, October 18th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, October 18th. This represents a $1.00 annualized dividend and a yield of 2.03%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 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.