Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Up 8.3% on Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s stock price rose 8.3% during trading on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $55.00 price target on the stock, up from their previous price target of $51.00. Cracker Barrel Old Country Store traded as high as $46.68 and last traded at $46.38. Approximately 325,284 shares traded hands during trading, a decline of 59% from the average daily volume of 802,511 shares. The stock had previously closed at $42.82.

Several other research firms also recently issued reports on CBRL. Loop Capital dropped their price target on 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, March 7th. Argus raised 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. StockNews.com raised Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd. Citigroup lifted their price objective on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the company a "sell" rating in a report on Friday, March 7th. Finally, Bank of America increased their target price on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.13.

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Institutional Trading of Cracker Barrel Old Country Store

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Cracker Barrel Old Country Store by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,613,358 shares of the restaurant operator's stock valued at $138,142,000 after purchasing an additional 13,305 shares during the period. Charles Schwab Investment Management Inc. increased its position in Cracker Barrel Old Country Store by 9.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator's stock worth $62,452,000 after purchasing an additional 106,440 shares in the last quarter. Marshall Wace LLP boosted its position in Cracker Barrel Old Country Store by 151.9% in the fourth quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator's stock valued at $40,544,000 after buying an additional 462,542 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Cracker Barrel Old Country Store by 2.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 648,342 shares of the restaurant operator's stock worth $34,271,000 after buying an additional 16,333 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cracker Barrel Old Country Store by 16.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 351,539 shares of the restaurant operator's stock valued at $18,584,000 after acquiring an additional 50,905 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company's stock.

Cracker Barrel Old Country Store Stock Down 6.7 %

The firm has a 50-day simple moving average of $53.14 and a 200 day simple moving average of $49.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. The stock has a market capitalization of $909.89 million, a P/E ratio of 22.58, a P/E/G ratio of 8.36 and a beta of 1.57.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. 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 2.45%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 62.11%.

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.