Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up Following Dividend Announcement

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $40.29, but opened at $50.96. Cracker Barrel Old Country Store shares last traded at $48.85, with a volume of 538,612 shares trading hands.

The newly announced dividend which will be paid on Wednesday, May 14th. Stockholders of record on Friday, April 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. Cracker Barrel Old Country Store's payout ratio is currently 62.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. Bank of America raised their price target on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, December 5th. Loop Capital reduced their price target on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday. Citigroup raised their price target on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the company a "sell" rating in a research note on Friday. Finally, Argus upgraded shares of Cracker Barrel Old Country Store from a "hold" rating to a "buy" rating and set a $52.00 target price on the stock in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $56.63.

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Cracker Barrel Old Country Store Stock Down 1.2 %

The stock has a market cap of $953.13 million, a price-to-earnings ratio of 23.66, a P/E/G ratio of 8.36 and a beta of 1.57. 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 stock's 50-day moving average price is $53.73 and its 200-day moving average price is $49.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CBRL. US Bancorp DE lifted its position in shares of Cracker Barrel Old Country Store by 365.0% in the 3rd quarter. US Bancorp DE now owns 3,246 shares of the restaurant operator's stock worth $147,000 after purchasing an additional 2,548 shares during the period. Versor Investments LP acquired a new position in shares of Cracker Barrel Old Country Store in the 3rd quarter worth approximately $209,000. Aviance Capital Partners LLC lifted its position in shares of Cracker Barrel Old Country Store by 84.9% in the 3rd quarter. Aviance Capital Partners LLC now owns 19,438 shares of the restaurant operator's stock worth $882,000 after purchasing an additional 8,925 shares during the period. Factorial Partners LLC lifted its position in shares of Cracker Barrel Old Country Store by 52.9% in the 3rd quarter. Factorial Partners LLC now owns 26,000 shares of the restaurant operator's stock worth $1,179,000 after purchasing an additional 9,000 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Cracker Barrel Old Country Store by 0.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator's stock valued at $4,536,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company's stock.

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.