Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 8.3% – What’s Next?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shot up 8.3% on Thursday . The company traded as high as $46.81 and last traded at $47.52. 136,049 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,314,943 shares. The stock had previously closed at $43.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CBRL shares. Bank of America lifted their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th. Truist Financial increased their target price 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. Freedom Capital upgraded shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a report on Monday, April 6th. Citigroup lifted their price target on shares of Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the stock a “sell” rating in a research report on Wednesday, June 10th. Finally, Argus upped their price target on Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.14.

Cracker Barrel Old Country Store Price Performance

The stock has a 50-day moving average of $33.46 and a two-hundred day moving average of $30.86. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 40.81 and a beta of 1.30. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74. The company had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. On average, analysts anticipate that Cracker Barrel Old Country Store, Inc. will post -0.97 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 86.21%.

Institutional Trading of Cracker Barrel Old Country Store

Several large investors have recently added to or reduced their stakes in the company. Axiom Investment Management LLC purchased a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at $28,000. Parvin Asset Management LLC grew its holdings in shares of Cracker Barrel Old Country Store by 7.4% during the first quarter. Parvin Asset Management LLC now owns 16,635 shares of the restaurant operator’s stock valued at $468,000 after buying an additional 1,150 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Cracker Barrel Old Country Store by 55.0% during the first quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator’s stock valued at $4,312,000 after buying an additional 54,431 shares in the last quarter. Maverick Capital Ltd. acquired a new position in Cracker Barrel Old Country Store during the first quarter valued at $251,000. Finally, Quantinno Capital Management LP acquired a new position in Cracker Barrel Old Country Store during the first quarter valued at $858,000. 96.01% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

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.