Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Up 7.7% Following Analyst Upgrade

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) traded up 7.7% on Monday after Truist Financial raised their price target on the stock from $64.00 to $65.00. Truist Financial currently has a buy rating on the stock. Cracker Barrel Old Country Store traded as high as $56.30 and last traded at $56.05. 403,076 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 838,914 shares. The stock had previously closed at $52.06.

A number of other equities analysts have also weighed in on the stock. Citigroup reiterated a "sell" rating and issued a $42.00 price objective (up from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Bank of America raised their target price 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. Benchmark reiterated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Loop Capital increased their price target on shares of Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Friday, June 6th. Finally, Wall Street Zen raised Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $53.86.

Insider Activity at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp bought 26,500 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were bought at an average cost of $43.05 per share, for a total transaction of $1,140,825.00. Following the completion of the transaction, the insider now owns 2,542,300 shares in the company, valued at $109,446,015. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 385,307 shares of company stock worth $15,679,910 over the last 90 days. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 487 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at about $25,000. Brooklyn Investment Group purchased a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at about $30,000. Smartleaf Asset Management LLC grew its position in shares of Cracker Barrel Old Country Store by 1,601.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator's stock valued at $52,000 after purchasing an additional 913 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 96.01% of the company's stock.

Cracker Barrel Old Country Store Stock Performance

The company has a current ratio of 0.65, a quick ratio of 0.26 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $1.31 billion, a PE ratio of 17.41, a PEG ratio of 5.67 and a beta of 1.45. The stock's 50 day moving average price is $50.66 and its two-hundred day moving average price is $50.19.

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 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $824.65 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Cracker Barrel Old Country Store's quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, July 18th. Cracker Barrel Old Country Store's dividend payout ratio (DPR) is presently 38.76%.

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.