Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up – Here’s What Happened

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) gapped up prior to trading on Thursday . The stock had previously closed at $45.27, but opened at $50.00. Cracker Barrel Old Country Store shares last traded at $46.49, with a volume of 208,799 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CBRL. Bank of America raised their target price on Cracker Barrel Old Country Store from $42.00 to $45.00 and gave the company an “underperform” rating in a research report on Friday. UBS Group lowered 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 research report on Thursday, September 19th. Truist Financial increased their target price 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 dropped their price objective on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Finally, Argus downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.57.

Cracker Barrel Old Country Store Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21. The stock has a market capitalization of $1.08 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The stock 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) last announced its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share 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 net margin of 1.18% and a return on equity of 18.65%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 earnings per share. On average, research analysts forecast that Cracker Barrel Old Country Store, Inc. will post 2.94 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Friday, October 18th were issued a $0.25 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Cracker Barrel Old Country Store’s payout ratio is currently 54.35%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBRL. Hazlett Burt & Watson Inc. increased its position in shares of Cracker Barrel Old Country Store by 200.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. CWM LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 96.3% during the 2nd quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 419 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Cracker Barrel Old Country Store in the third quarter worth $45,000. GAMMA Investing LLC increased its stake in Cracker Barrel Old Country Store by 447.2% in the second quarter. GAMMA Investing LLC now owns 1,286 shares of the restaurant operator’s stock valued at $54,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Cracker Barrel Old Country Store by 22.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 247 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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.