Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $45.00

Cracker Barrel Old Country Store (NASDAQ:CBRL - Free Report) had its price target increased by Bank of America from $39.00 to $45.00 in a report published on Friday morning,Benzinga reports. Bank of America currently has an underperform rating on the restaurant operator's stock.

Several other equities analysts have also recently weighed in on the company. Truist Financial raised their price objective on Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the company a "buy" rating in a report on Friday. Citigroup restated a "sell" rating and issued a $42.00 price objective (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Benchmark reissued a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. UBS Group reissued a "neutral" rating and issued a $60.00 target price (up from $48.00) on shares of Cracker Barrel Old Country Store in a research note on Tuesday, June 3rd. Finally, Loop Capital raised their target price on shares of Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Cracker Barrel Old Country Store has a consensus rating of "Hold" and a consensus price target of $53.71.

Cracker Barrel Old Country Store Stock Up 9.7%

Shares of CBRL traded up $5.36 during mid-day trading on Friday, hitting $60.74. 1,495,168 shares of the company's stock were exchanged, compared to its average volume of 817,080. The company has a market cap of $1.35 billion, a PE ratio of 33.56, a P/E/G ratio of 8.36 and a beta of 1.45. Cracker Barrel Old Country Store has a 52 week low of $33.86 and a 52 week high of $65.43. The company has a 50-day simple moving average of $47.96 and a 200 day simple moving average of $50.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.41. The business had revenue of $821.10 million during the quarter, compared to the consensus estimate of $824.65 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. On average, research analysts forecast that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Friday, July 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, July 18th. Cracker Barrel Old Country Store's payout ratio is currently 38.76%.

Insiders Place Their Bets

In related news, major shareholder Gmt Capital Corp acquired 31,800 shares of Cracker Barrel Old Country Store stock in a transaction on Wednesday, April 9th. The stock was purchased at an average cost of $37.31 per share, with a total value 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 385,307 shares of company stock valued at $15,679,910 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 9.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator's stock worth $62,452,000 after acquiring an additional 106,440 shares during the period. Good Life Advisors LLC bought a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $404,000. Vanguard Group Inc. boosted its position in shares of Cracker Barrel Old Country Store by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,613,358 shares of the restaurant operator's stock valued at $138,142,000 after acquiring an additional 13,305 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $704,000. Finally, Amundi boosted its position in shares of Cracker Barrel Old Country Store by 202.4% in the fourth quarter. Amundi now owns 10,729 shares of the restaurant operator's stock valued at $615,000 after acquiring an additional 7,181 shares during the period. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Company Profile

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.