Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading 8.3% Higher – What’s Next?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price shot up 8.3% during mid-day trading on Thursday . The company traded as high as $46.81 and last traded at $47.52. 136,049 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,314,943 shares. The stock had previously closed at $43.88.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CBRL. Bank of America lifted their price target on Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday. Citigroup boosted their price objective on Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the stock a “sell” rating in a report on Wednesday, June 10th. Freedom Capital raised Cracker Barrel Old Country Store to a “strong-buy” rating in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a report on Friday, March 27th. Finally, Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus target price of $42.14.

Cracker Barrel Old Country Store Price Performance

The stock has a market capitalization of $1.07 billion, a P/E ratio of 41.09 and a beta of 1.30. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $32.72 and a two-hundred day simple moving average of $30.61.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.74. The firm had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post -0.97 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Friday, July 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Cracker Barrel Old Country Store’s dividend payout ratio is 86.21%.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter valued at about $26,000. Axiom Investment Management LLC bought a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter valued at about $28,000. Hilton Head Capital Partners LLC bought a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter valued at about $35,000. Canada Pension Plan Investment Board bought a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at about $37,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 321 shares during the last quarter. 96.01% of the stock is owned by institutional investors.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.