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

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) rose 7.7% during trading 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. Approximately 403,076 shares were traded during trading, a decline of 52% from the average daily volume of 838,914 shares. The stock had previously closed at $52.06.

Several other brokerages also recently issued reports on CBRL. Wall Street Zen upgraded Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd. Benchmark restated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Bank of America upped their price target on shares of 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. UBS Group reissued a "neutral" rating and issued a $60.00 price objective (up from $48.00) on shares of Cracker Barrel Old Country Store in a report on Tuesday, June 3rd. Finally, Citigroup reiterated a "sell" rating and issued a $42.00 target price (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.86.

Insider Buying and Selling at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp purchased 53,000 shares of Cracker Barrel Old Country Store stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $44.60 per share, for a total transaction of $2,363,800.00. Following the completion of the acquisition, the insider now owns 2,833,700 shares in the company, valued at approximately $126,383,020. This trade represents a 1.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 385,307 shares of company stock worth $15,679,910 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently made changes to their positions in CBRL. Empowered Funds LLC purchased a new position in Cracker Barrel Old Country Store in the 4th quarter valued at approximately $213,000. Principal Financial Group Inc. raised its position in shares of Cracker Barrel Old Country Store by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 107,820 shares of the restaurant operator's stock worth $5,699,000 after buying an additional 2,988 shares in the last quarter. Good Life Advisors LLC purchased a new position in Cracker Barrel Old Country Store during the fourth quarter worth about $404,000. Versor Investments LP lifted its stake in Cracker Barrel Old Country Store by 234.8% during the fourth quarter. Versor Investments LP now owns 15,400 shares of the restaurant operator's stock worth $814,000 after purchasing an additional 10,800 shares during the last quarter. Finally, Connable Office Inc. purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter worth approximately $215,000. Institutional investors and hedge funds own 96.01% of the company's stock.

Cracker Barrel Old Country Store Trading Up 9.6%

The firm has a market capitalization of $1.27 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45. The firm's 50-day simple moving average is $49.41 and its 200-day simple moving average is $50.05. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.41. The business had revenue of $821.10 million during the quarter, compared to analysts' expectations of $824.65 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. 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 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, July 18th. Cracker Barrel Old Country Store's payout ratio is presently 38.76%.

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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