Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Up 6% - Here's Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) shot up 6% during trading on Friday . The company traded as high as $51.37 and last traded at $51.33. 76,718 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 738,803 shares. The stock had previously closed at $48.42.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the stock an "underperform" rating in a research note on Friday, September 20th. StockNews.com raised shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research note on Friday, September 20th. Argus cut shares of Cracker Barrel Old Country Store from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. UBS Group dropped their price objective on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, September 19th. Finally, Loop Capital reduced their target price 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. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of "Hold" and a consensus target price of $53.57.

Cracker Barrel Old Country Store Stock Down 2.4 %

The firm's 50 day simple moving average is $42.70 and its 200-day simple moving average is $46.37. 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 $1.05 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.23 and a beta of 1.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.19). The company 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 return on equity of 18.65% and a net margin of 1.18%. The business's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 EPS. Equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.94 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Friday, October 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. Cracker Barrel Old Country Store's payout ratio is 36.90%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CBRL. PNC Financial Services Group Inc. increased its position in Cracker Barrel Old Country Store by 18.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,667 shares of the restaurant operator's stock worth $283,000 after buying an additional 582 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth approximately $73,000. Aviance Capital Partners LLC increased its holdings in shares of Cracker Barrel Old Country Store by 14.0% during the 1st quarter. Aviance Capital Partners LLC now owns 17,251 shares of the restaurant operator's stock worth $1,255,000 after acquiring an additional 2,123 shares during the last quarter. Principal Financial Group Inc. raised its stake in Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 115,605 shares of the restaurant operator's stock valued at $8,408,000 after acquiring an additional 381 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in Cracker Barrel Old Country Store by 21.7% during the 1st quarter. North Star Investment Management Corp. now owns 14,000 shares of the restaurant operator's stock valued at $1,018,000 after purchasing an additional 2,500 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

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.