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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s share price rose 4.1% during 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. Approximately 59,852 shares traded hands during trading, a decline of 92% from the average daily volume of 730,403 shares. The stock had previously closed at $48.07.

CBRL has been the subject of several other research reports. Truist Financial increased their price target on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a "hold" rating in a research report on Friday. Loop Capital decreased their price target on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a "hold" rating for the company in a research note 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. Argus downgraded Cracker Barrel Old Country Store from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Finally, UBS Group dropped their price target on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $54.57.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Cracker Barrel Old Country Store by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator's stock valued at $190,263,000 after purchasing an additional 6,804 shares during the last quarter. Earnest Partners LLC grew its position in Cracker Barrel Old Country Store by 0.4% in the first quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator's stock worth $148,107,000 after acquiring an additional 7,587 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cracker Barrel Old Country Store by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator's stock valued at $48,752,000 after acquiring an additional 111,892 shares during the last quarter. Marshall Wace LLP purchased a new stake in Cracker Barrel Old Country Store during the second quarter valued at about $25,636,000. Finally, Verition Fund Management LLC lifted its stake in Cracker Barrel Old Country Store by 96.0% during the third quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator's stock worth $7,299,000 after purchasing an additional 78,816 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company's stock.

Cracker Barrel Old Country Store Price 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 capitalization of $1.08 billion, a PE ratio of 26.53, a PEG ratio of 1.29 and a beta of 1.42. The business has a fifty day moving average price of $45.15 and a 200-day moving average price of $44.97.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.19). The business had revenue of $894.39 million for the quarter, compared to the consensus estimate 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 firm's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.79 earnings per share. Research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.94 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.05%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) 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.