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

Key Points

• Cracker Barrel Old Country Store's stock surpassed its 200-day moving average of $52.38, trading at a high of $59.93 on the same day.
• Analysts have set varying price targets for the stock, with Citigroup at $42.00 (sell) and UBS Group at $69.00 (neutral), leading to an average rating of Hold and a consensus price target of $55.14.
• The company recently announced a quarterly dividend of $0.25 per share, yielding approximately 1.7%, which will benefit shareholders recorded by July 18th.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $52.38 and traded as high as $59.93. Cracker Barrel Old Country Store shares last traded at $59.88, with a volume of 956,864 shares trading hands.

Wall Street Analyst Weigh In

CBRL has been the subject of several recent research reports. Bank of America increased their price objective on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an "underperform" rating in a research note on Friday, June 6th. Truist Financial increased their price objective on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Citigroup reissued 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 note on Friday, May 23rd. UBS Group reissued a "neutral" rating and issued a $69.00 price objective (up from $60.00) on shares of Cracker Barrel Old Country Store in a research note on Monday, July 14th. Finally, Loop Capital increased their price objective on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $55.14.

Cracker Barrel Old Country Store Trading Up 1.3%

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 company has a fifty day simple moving average of $61.96 and a 200-day simple moving average of $52.45. The company has a market capitalization of $1.39 billion, a PE ratio of 24.24 and a beta of 1.47.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 16.83% and a net margin of 1.65%. The company's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. Analysts predict that Cracker Barrel Old Country Store, Inc. will post 2.76 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Cracker Barrel Old Country Store's dividend payout ratio is currently 38.76%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently modified their holdings of CBRL. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth $25,000. Sterling Capital Management LLC boosted its holdings in 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 valued at $29,000 after acquiring an additional 487 shares during the period. Brooklyn Investment Group purchased a new position in Cracker Barrel Old Country Store during the 1st quarter valued at about $30,000. Assetmark Inc. boosted its holdings in Cracker Barrel Old Country Store by 517.3% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the restaurant operator's stock valued at $31,000 after acquiring an additional 419 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Cracker Barrel Old Country Store during the 2nd quarter valued at about $37,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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.