Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 5.2% - Time to Buy?

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) shot up 5.2% during mid-day trading on Tuesday . The company traded as high as $64.05 and last traded at $64.25. 60,154 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 846,634 shares. The stock had previously closed at $61.08.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Loop Capital increased their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a report on Friday, June 6th. Bank of America upped their target price on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an "underperform" rating in a report on Friday, June 6th. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Citigroup reissued a "sell" rating and set a $42.00 price target (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Finally, Truist Financial upped their price objective on shares of Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $53.86.

Cracker Barrel Old Country Store Stock Performance

The firm has a 50 day simple moving average of $53.95 and a 200-day simple moving average of $50.72. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 5.69 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.65 and a quick ratio of 0.26.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.41. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%. The firm had revenue of $821.10 million during the quarter, compared to the consensus estimate of $824.65 million. During the same period last year, the company earned $0.88 EPS. The company's quarterly revenue was up .5% on a year-over-year basis. As a group, analysts predict 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 business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is 38.76%.

Insiders Place Their Bets

In other news, major shareholder Gmt Capital Corp bought 53,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $44.60 per share, with a total value of $2,363,800.00. Following the completion of the transaction, the insider directly owned 2,833,700 shares in the company, valued at $126,383,020. This trade represents a 1.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 385,307 shares of company stock valued at $15,679,910. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Cracker Barrel Old Country Store by 9.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator's stock valued at $62,452,000 after buying an additional 106,440 shares during the period. Vanguard Group Inc. boosted its holdings in Cracker Barrel Old Country Store by 0.5% during the 4th 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 acquired a new position in Cracker Barrel Old Country Store in the 4th quarter valued at about $704,000. Amundi increased its stake in Cracker Barrel Old Country Store by 202.4% during the fourth quarter. Amundi now owns 10,729 shares of the restaurant operator's stock worth $615,000 after purchasing an additional 7,181 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Cracker Barrel Old Country Store by 2.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 648,342 shares of the restaurant operator's stock worth $34,271,000 after purchasing an additional 16,333 shares during the period. 96.01% of the stock is currently 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.