Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Cracker Barrel shares surged above their 200-day moving average, trading as high as $54.71 and last changing hands at $53.41, a sign of recent momentum in the stock.
• Analyst sentiment remains mixed: recent updates included upgrades and higher price targets, but MarketBeat’s consensus rating is still “Hold” with an average target price of $42.14.
• The company beat fiscal Q3 earnings expectations, reporting EPS of $0.29 versus an expected loss and revenue of $797.37 million, while also announcing a quarterly dividend of $0.25 per share.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.47 and traded as high as $54.71. Cracker Barrel Old Country Store shares last traded at $53.41, with a volume of 1,248,015 shares.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CBRL shares. Freedom Capital raised shares of Cracker Barrel Old Country Store to a "strong-buy" rating in a report on Monday, April 6th. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a report on Saturday, June 13th. UBS Group boosted their target price on shares of Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 10th. Argus upped their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Finally, Bank of America raised their price target on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $42.14.

Cracker Barrel Old Country Store Trading Down 0.4%

The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The business's fifty day simple moving average is $42.33 and its two-hundred day simple moving average is $34.47. The stock has a market capitalization of $1.19 billion, a P/E ratio of 46.04 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.74. The company had revenue of $797.37 million for the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The business's revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, analysts forecast that Cracker Barrel Old Country Store, Inc. will post -0.83 earnings per share for the current year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is 86.21%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several large investors have recently added to or reduced their stakes in CBRL. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter worth approximately $26,000. Axiom Investment Management LLC acquired a new position in shares of Cracker Barrel Old Country Store in the first quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Cracker Barrel Old Country Store in the fourth quarter valued at $35,000. Canada Pension Plan Investment Board bought a new position in Cracker Barrel Old Country Store in the second quarter worth $37,000. Finally, PNC Financial Services Group Inc. lifted its position in Cracker Barrel Old Country Store by 22.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock worth $50,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 96.01% of the company's stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.

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