Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up on Better-Than-Expected Earnings

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $40.29, but opened at $50.96. Cracker Barrel Old Country Store shares last traded at $48.85, with a volume of 538,612 shares traded.

The restaurant operator reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.38. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%.

Cracker Barrel Old Country Store Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. Cracker Barrel Old Country Store’s payout ratio is presently 55.25%.

Wall Street Analyst Weigh In

CBRL has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Argus upgraded Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Monday, November 18th. Bank of America boosted their price objective on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, December 5th. UBS Group lifted their price target on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Loop Capital raised their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus price target of $57.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CBRL. Point72 Asset Management L.P. acquired a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at approximately $2,526,000. Cibc World Market Inc. acquired a new position in Cracker Barrel Old Country Store during the fourth quarter worth $11,711,000. Good Life Advisors LLC purchased a new stake in Cracker Barrel Old Country Store during the fourth quarter worth $404,000. Charles Schwab Investment Management Inc. boosted its position in Cracker Barrel Old Country Store by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after purchasing an additional 111,892 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at $256,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Trading Up 14.9 %

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24. The business has a 50-day moving average price of $54.55 and a two-hundred day moving average price of $49.18. The firm has a market cap of $1.03 billion, a PE ratio of 26.58, a PEG ratio of 8.36 and a beta of 1.48.

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.