Cracker Barrel Old Country Store (NASDAQ:CBRL) Sees Large Volume Increase - Here's Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) saw strong trading volume on Wednesday . 2,795,110 shares traded hands during trading, an increase of 235% from the previous session's volume of 833,476 shares.The stock last traded at $55.33 and had previously closed at $54.51.

Analysts Set New Price Targets

Several research firms recently commented on CBRL. Bank of America boosted their price target on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a research report on Friday, June 6th. Truist Financial boosted their price target on Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Loop Capital boosted their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, June 6th. Wall Street Zen raised Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd. Finally, Citigroup reissued a "sell" rating and set a $42.00 price target (up from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Cracker Barrel Old Country Store presently has an average rating of "Hold" and a consensus price target of $53.71.

Cracker Barrel Old Country Store Stock Performance

The stock has a 50-day simple moving average of $48.70 and a 200-day simple moving average of $50.07. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.41. The company 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%. Cracker Barrel Old Country Store's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts anticipate 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. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio is currently 38.76%.

Insider Activity at Cracker Barrel Old Country Store

In related 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 purchase, the insider now directly owns 2,484,000 shares in the company, valued at $92,678,040. This represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 385,307 shares of company stock valued at $15,679,910. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd bought a new position in Cracker Barrel Old Country Store during the 1st quarter worth $342,000. Woodline Partners LP grew its stake in Cracker Barrel Old Country Store by 340.8% during the 1st quarter. Woodline Partners LP now owns 332,790 shares of the restaurant operator's stock worth $12,919,000 after buying an additional 257,301 shares during the last quarter. Caxton Associates LLP bought a new position in Cracker Barrel Old Country Store during the 1st quarter worth $423,000. Dynamic Technology Lab Private Ltd bought a new position in Cracker Barrel Old Country Store during the 1st quarter worth $1,065,000. Finally, Scientech Research LLC grew its stake in Cracker Barrel Old Country Store by 276.2% during the 1st quarter. Scientech Research LLC now owns 18,892 shares of the restaurant operator's stock worth $733,000 after buying an additional 13,870 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors.

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.