Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up on Strong Earnings

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $53.63, but opened at $55.60. Cracker Barrel Old Country Store shares last traded at $55.22, with a volume of 90,777 shares.

The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.17 by $0.41. Cracker Barrel Old Country Store had a return on equity of 18.61% and a net margin of 1.15%. The firm had revenue of $821.10 million during the quarter, compared to analysts' expectations of $824.65 million. During the same period last year, the business earned $0.88 earnings per share. Cracker Barrel Old Country Store's quarterly revenue was up .5% compared to the same quarter last year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders 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 1.81%. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is currently 62.11%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBRL. Loop Capital cut their price objective on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research report on Monday, March 10th. Citigroup reissued a "sell" rating and set a $42.00 target price (up from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Wall Street Zen upgraded Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research note on Sunday, March 2nd. Finally, Truist Financial set a $63.00 price target on Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $54.00.

Insider Activity

In other Cracker Barrel Old Country Store news, major shareholder Gmt Capital Corp purchased 53,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $44.60 per share, with a total value of $2,363,800.00. Following the acquisition, the insider now owns 2,833,700 shares of the company's stock, valued at approximately $126,383,020. This represents a 1.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders purchased 385,307 shares of company stock worth $15,679,910. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of the business. Captrust Financial Advisors raised its holdings in shares of Cracker Barrel Old Country Store by 6.1% during the 4th quarter. Captrust Financial Advisors now owns 6,302 shares of the restaurant operator's stock worth $333,000 after buying an additional 361 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cracker Barrel Old Country Store by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,592 shares of the restaurant operator's stock worth $666,000 after buying an additional 417 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Cracker Barrel Old Country Store by 685.9% during the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock worth $29,000 after buying an additional 487 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth $25,000. Finally, MetLife Investment Management LLC increased its holdings in Cracker Barrel Old Country Store by 6.0% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 96.01% of the company's stock.

Cracker Barrel Old Country Store Stock Up 3.0%

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. The stock has a market capitalization of $1.23 billion, a P/E ratio of 30.43, a P/E/G ratio of 8.36 and a beta of 1.36. The firm has a 50-day simple moving average of $47.29 and a 200 day simple moving average of $49.81.

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.

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