Cracker Barrel Old Country Store (NASDAQ:CBRL) announced that its Board of Directors has authorized a share buyback plan, which permits the company to repurchase $25.00 million in outstanding shares on Friday, September 29th, EventVestor reports. This repurchase authorization permits the restaurant operator to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Cracker Barrel Old Country Store (NASDAQ:CBRL) traded up 0.81% during midday trading on Friday, reaching $151.62. 402,010 shares of the company were exchanged. The firm’s 50-day moving average price is $149.76 and its 200 day moving average price is $158.57. Cracker Barrel Old Country Store has a 52-week low of $130.15 and a 52-week high of $175.04. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 18.11 and a beta of 0.52.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Wednesday, September 13th. The restaurant operator reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Cracker Barrel Old Country Store had a return on equity of 35.49% and a net margin of 6.90%. The firm had revenue of $743.20 million for the quarter, compared to the consensus estimate of $746.72 million. During the same quarter in the prior year, the company posted $2.12 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Equities analysts predict that Cracker Barrel Old Country Store will post $8.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Friday, October 13th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.17%. Cracker Barrel Old Country Store’s payout ratio is 57.28%.

A number of research analysts recently commented on the stock. BidaskClub raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $181.00 price objective on the stock in a research report on Wednesday, July 12th. Instinet started coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They issued a “neutral” rating and a $162.00 target price on the stock. Nomura started coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They issued a “neutral” rating and a $162.00 target price on the stock. Finally, Bank of America Corporation lowered their target price on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating on the stock in a report on Monday, September 11th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and an average target price of $163.22.

In related news, Director Andrea Weiss sold 2,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $153.39, for a total value of $306,780.00. Following the completion of the transaction, the director now directly owns 11,758 shares of the company’s stock, valued at $1,803,559.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sandra B. Cochran sold 36,794 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $151.67, for a total value of $5,580,545.98. Following the completion of the transaction, the chief executive officer now directly owns 157,591 shares of the company’s stock, valued at $23,901,826.97. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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