Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 6.9% on Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded up 6.9% during mid-day trading on Monday after Bank of America raised their price target on the stock from $39.00 to $45.00. Bank of America currently has an underperform rating on the stock. Cracker Barrel Old Country Store traded as high as $59.02 and last traded at $59.20. 240,262 shares changed hands during trading, a decline of 70% from the average session volume of 812,128 shares. The stock had previously closed at $55.38.

A number of other equities analysts have also commented on the stock. Truist Financial boosted their price target on shares of Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday. Wall Street Zen raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. UBS Group restated a “neutral” rating and set a $60.00 price target (up from $48.00) on shares of Cracker Barrel Old Country Store in a research report on Tuesday, June 3rd. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, March 10th. Finally, Loop Capital increased their target price on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.71.

Insiders Place Their Bets

In other news, major shareholder Gmt Capital Corp acquired 31,800 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $37.31 per share, for a total transaction of $1,186,458.00. Following the completion of the transaction, the insider now directly owns 2,484,000 shares in the company, valued at $92,678,040. This trade represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have bought 385,307 shares of company stock valued at $15,679,910. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Cracker Barrel Old Country Store by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,613,358 shares of the restaurant operator’s stock worth $138,142,000 after buying an additional 13,305 shares during the period. GMT Capital Corp acquired a new stake in Cracker Barrel Old Country Store during the 1st quarter worth $78,750,000. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $62,452,000 after acquiring an additional 106,440 shares during the last quarter. Marshall Wace LLP raised its position in shares of Cracker Barrel Old Country Store by 151.9% during the 4th quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator’s stock valued at $40,544,000 after acquiring an additional 462,542 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Cracker Barrel Old Country Store by 2.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 648,342 shares of the restaurant operator’s stock valued at $34,271,000 after purchasing an additional 16,333 shares during the period. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Price Performance

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.24 and a current ratio of 0.69. The company has a 50-day moving average price of $47.57 and a 200-day moving average price of $49.91. The firm has a market capitalization of $1.32 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.41. The firm had revenue of $821.10 million for the quarter, compared to analyst estimates of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 18.61% and a net margin of 1.15%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, sell-side analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, July 18th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 38.76%.

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.