Cracker Barrel Old Country Store (NASDAQ:CBRL) Hits New 12-Month High - Here's Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $70.74 and last traded at $70.07, with a volume of 159249 shares traded. The stock had previously closed at $68.16.

Analyst Ratings Changes

A number of research firms have weighed in on CBRL. UBS Group reissued a "neutral" rating and issued a $69.00 target price (up previously from $60.00) on shares of Cracker Barrel Old Country Store in a report on Monday, July 14th. Truist Financial upped their target price on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Loop Capital increased their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Friday, June 6th. Bank of America increased their price target on shares of Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a report on Friday, June 6th. Finally, Citigroup reissued a "sell" rating and issued a $42.00 price objective (up from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Two 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $55.14.

Cracker Barrel Old Country Store Stock Performance

The firm has a market capitalization of $1.46 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 6.12 and a beta of 1.45. The company's 50 day moving average is $61.12 and its 200-day moving average is $52.25. The company has a quick ratio of 0.26, a current ratio of 0.65 and a debt-to-equity ratio of 1.04.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.17 by $0.41. Cracker Barrel Old Country Store had a net margin of 1.65% and a return on equity of 16.83%. The company had revenue of $821.10 million for the quarter, compared to analyst estimates of $824.65 million. During the same quarter last year, the firm earned $0.88 EPS. The firm's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Friday, July 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio is presently 38.76%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp purchased 53,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were bought at an average cost of $41.84 per share, for a total transaction of $2,217,520.00. Following the completion of the purchase, the insider directly owned 2,674,800 shares of the company's stock, valued at approximately $111,913,632. This trade represents a 2.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have bought 141,607 shares of company stock worth $6,104,231. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several large investors have recently modified their holdings of CBRL. Sterling Capital Management LLC lifted its stake in shares of Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 487 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Cracker Barrel Old Country Store in the first quarter worth $25,000. Brooklyn Investment Group bought a new position in Cracker Barrel Old Country Store during the first quarter valued at about $30,000. Meeder Asset Management Inc. bought a new position in Cracker Barrel Old Country Store during the first quarter valued at about $45,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Cracker Barrel Old Country Store by 360.2% during the first quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator's stock valued at $46,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company's stock.

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.