Cracker Barrel Old Country Store Sees Unusually Large Options Volume (NASDAQ:CBRL)

Key Points

• Unusual options activity was seen in Cracker Barrel, with investors buying 2,842 call options on Friday, about 45% above its average daily volume.
• Shares rose to $52.97 on Friday, and the stock has gained attention after beating quarterly earnings estimates with $0.29 EPS versus the expected loss of $0.45.
• Analyst sentiment remains mixed, but several firms raised targets; the consensus rating is Hold with an average price target of $42.14.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) was the recipient of some unusual options trading on Friday. Investors purchased 2,842 call options on the company. This is an increase of 45% compared to the average daily volume of 1,956 call options.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. Bank of America increased their price objective on Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday, June 15th. Freedom Capital raised shares of Cracker Barrel Old Country Store to a "strong-buy" rating in a report on Monday, April 6th. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, UBS Group increased their price target on shares of Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $42.14.

Cracker Barrel Old Country Store Stock Performance

Cracker Barrel Old Country Store stock traded up $3.46 during trading hours on Friday, reaching $52.97. 341,063 shares of the stock were exchanged, compared to its average volume of 1,300,611. Cracker Barrel Old Country Store has a 52-week low of $24.85 and a 52-week high of $71.93. The stock has a market cap of $1.18 billion, a P/E ratio of 45.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. The firm's 50 day moving average is $39.35 and its 200 day moving average is $33.17.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.74. The business had revenue of $797.37 million for the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 earnings per share. Analysts predict that Cracker Barrel Old Country Store will post -0.83 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

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

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Maxi Investments CY Ltd acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $1,168,000. UBS Group AG grew its position in Cracker Barrel Old Country Store by 50.3% during the fourth quarter. UBS Group AG now owns 292,220 shares of the restaurant operator's stock worth $7,422,000 after buying an additional 97,761 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Cracker Barrel Old Country Store by 173.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 155,530 shares of the restaurant operator's stock valued at $3,950,000 after buying an additional 98,686 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Cracker Barrel Old Country Store by 262.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 149,849 shares of the restaurant operator's stock valued at $3,806,000 after buying an additional 108,533 shares in the last quarter. Finally, GFS Advisors LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at approximately $508,000. Institutional investors and hedge funds own 96.01% of the company's stock.

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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