Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 4.2%

Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 4.2%

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Free Report) shot up 4.2% during trading on Wednesday . The company traded as high as $47.22 and last traded at $46.43. 428,882 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 766,681 shares. The stock had previously closed at $44.57.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CBRL. Citigroup dropped their price target on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, May 31st. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Loop Capital dropped their price target on shares of Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Bank of America dropped their price target on shares of Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, CL King downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.86.

Cracker Barrel Old Country Store Stock Performance

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.23 and a current ratio of 0.63. The company’s fifty day simple moving average is $46.25 and its two-hundred day simple moving average is $61.08.

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last announced its quarterly earnings data on Thursday, May 30th. The restaurant operator reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. Cracker Barrel Old Country Store had a net margin of 1.77% and a return on equity of 22.11%. The company had revenue of $817.14 million during the quarter, compared to analyst estimates of $820.61 million. During the same period last year, the business earned $1.21 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts predict that Cracker Barrel Old Country Store, Inc. will post 3.88 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 19th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, July 19th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 191.88%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. grew its position in shares of Cracker Barrel Old Country Store by 63.7% during the 4th quarter. Pinebridge Investments L.P. now owns 17,794 shares of the restaurant operator’s stock valued at $1,371,000 after buying an additional 6,925 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $2,935,000. Future Financial Wealth Managment LLC bought a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at about $73,000. Duality Advisers LP grew its position in shares of Cracker Barrel Old Country Store by 196.5% during the 1st quarter. Duality Advisers LP now owns 50,928 shares of the restaurant operator’s stock valued at $3,704,000 after buying an additional 33,751 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cracker Barrel Old Country Store by 29.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,525 shares of the restaurant operator’s stock valued at $349,000 after buying an additional 1,034 shares during the last quarter. Institutional investors 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.

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