Cracker Barrel Old Country Store (NASDAQ:CBRL) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.33 and traded as high as $55.20. Cracker Barrel Old Country Store shares last traded at $53.50, with a volume of 913,168 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CBRL shares. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. Truist Financial lifted their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Citigroup upped their price objective on shares of Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the stock a “sell” rating in a report on Wednesday, June 10th. Wells Fargo & Company upgraded shares of Cracker Barrel Old Country Store from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $35.00 to $50.00 in a research report on Wednesday, June 10th. Finally, Freedom Capital raised shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.14.

Cracker Barrel Old Country Store Trading Down 2.9%

The business has a 50 day simple moving average of $37.34 and a 200-day simple moving average of $32.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. The stock has a market capitalization of $1.20 billion, a P/E ratio of 46.12 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.74. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The company had revenue of $797.37 million for the quarter, compared to analysts’ expectations of $776.69 million. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts predict that Cracker Barrel Old Country Store, Inc. will post -0.83 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, July 17th. Cracker Barrel Old Country Store’s payout ratio is presently 86.21%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Maxi Investments CY Ltd bought a new position in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $1,168,000. WINTON GROUP Ltd bought a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter worth approximately $2,355,000. UBS Group AG raised its holdings in shares of Cracker Barrel Old Country Store by 50.3% in the 4th quarter. UBS Group AG now owns 292,220 shares of the restaurant operator’s stock worth $7,422,000 after purchasing an additional 97,761 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Cracker Barrel Old Country Store by 173.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 155,530 shares of the restaurant operator’s stock valued at $3,950,000 after purchasing an additional 98,686 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new stake in Cracker Barrel Old Country Store during the fourth quarter valued at approximately $508,000. 96.01% of the stock is currently owned by institutional investors.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.