Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 5% - Here's Why

Key Points

• Cracker Barrel shares rose 5% on Friday, trading as high as $51.82 amid lighter-than-average volume, after closing at $49.51 the prior day.
• Analyst sentiment has improved somewhat, with recent upgrades and higher price targets from firms including Freedom Capital, Bank of America, and Argus, though the consensus rating remains Hold with an average target of $42.14.
• The company beat quarterly earnings expectations, posting $0.29 EPS versus estimates for a loss, and it also announced a quarterly dividend of $0.25 per share payable August 12.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) shares traded up 5% on Friday . The company traded as high as $51.82 and last traded at $51.9840. Approximately 101,289 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,299,501 shares. The stock had previously closed at $49.51.

Analyst Ratings Changes

Several equities analysts have issued reports on CBRL shares. Freedom Capital raised Cracker Barrel Old Country Store to a "strong-buy" rating in a report on Monday, April 6th. UBS Group upped their target price on Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the company a "neutral" rating in a research report on Wednesday, June 10th. Weiss Ratings upgraded Cracker Barrel Old Country Store from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday. Bank of America lifted their price target on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Finally, Argus boosted their price objective on Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $42.14.

Cracker Barrel Old Country Store Price Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19. The company has a 50 day moving average price of $39.35 and a 200 day moving average price of $33.17. The firm has a market cap of $1.16 billion, a PE ratio of 44.60 and a beta of 1.20.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.74. The firm had revenue of $797.37 million for the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. Cracker Barrel Old Country Store's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. Sell-side analysts expect that Cracker Barrel Old Country Store, Inc. will post -0.83 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Friday, July 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Cracker Barrel Old Country Store's payout ratio is presently 86.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cracker Barrel Old Country Store by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator's stock valued at $510,000 after purchasing an additional 546 shares during the period. Cetera Investment Advisers increased its position in Cracker Barrel Old Country Store by 64.6% during the 2nd quarter. Cetera Investment Advisers now owns 9,210 shares of the restaurant operator's stock worth $563,000 after purchasing an additional 3,614 shares during the period. Norges Bank purchased a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth approximately $843,000. New York State Common Retirement Fund raised its stake in shares of Cracker Barrel Old Country Store by 23.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,386 shares of the restaurant operator's stock worth $512,000 after buying an additional 1,600 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Cracker Barrel Old Country Store by 76.0% in the 2nd quarter. Invesco Ltd. now owns 350,859 shares of the restaurant operator's stock valued at $21,430,000 after buying an additional 151,463 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.

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