Cracker Barrel Old Country Store (NASDAQ:CBRL) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.27 and traded as high as $59.92. Cracker Barrel Old Country Store shares last traded at $59.86, with a volume of 1,097,328 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on CBRL. Loop Capital boosted their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research note on Sunday, March 2nd. Benchmark reiterated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Bank of America boosted their price objective on shares of Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the stock an "underperform" rating in a research note on Friday, June 6th. Finally, Citigroup reiterated a "sell" rating and set a $42.00 price objective (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of "Hold" and a consensus price target of $53.86.

Cracker Barrel Old Country Store Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.26 and a current ratio of 0.65. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 5.73 and a beta of 1.45. The stock's 50 day simple moving average is $51.75 and its 200-day simple moving average is $50.27.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly 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. Cracker Barrel Old Country Store had a net margin of 1.65% and a return on equity of 16.83%. The business had revenue of $821.10 million for the quarter, compared to analyst estimates of $824.65 million. During the same quarter in the prior year, the business posted $0.88 EPS. Cracker Barrel Old Country Store's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. Cracker Barrel Old Country Store's payout ratio is currently 38.76%.

Insider Transactions at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp acquired 105,900 shares of the firm's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $35.94 per share, with a total value of $3,806,046.00. Following the completion of the acquisition, the insider now directly owns 2,452,200 shares in the company, valued at approximately $88,132,068. This trade represents a 4.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 385,307 shares of company stock worth $15,679,910 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors increased its position in Cracker Barrel Old Country Store by 6.1% during the fourth quarter. Captrust Financial Advisors now owns 6,302 shares of the restaurant operator's stock worth $333,000 after purchasing an additional 361 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cracker Barrel Old Country Store by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,592 shares of the restaurant operator's stock worth $666,000 after purchasing an additional 417 shares during the last quarter. Sterling Capital Management LLC increased its position in Cracker Barrel Old Country Store by 685.9% during the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 487 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Cracker Barrel Old Country Store during the first quarter worth about $25,000. Finally, MetLife Investment Management LLC increased its position in Cracker Barrel Old Country Store by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 13,371 shares of the restaurant operator's stock worth $707,000 after purchasing an additional 754 shares during the last quarter. 96.01% of the stock is owned by hedge funds and other 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.

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