Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Up 8.3% on Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price was up 8.3% during trading on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $55.00 price target on the stock, up from their previous price target of $51.00. Cracker Barrel Old Country Store traded as high as $46.68 and last traded at $46.38. Approximately 325,284 shares changed hands during trading, a decline of 59% from the average daily volume of 802,511 shares. The stock had previously closed at $42.82.

Several other research firms also recently weighed in on CBRL. Bank of America upped their price target on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, December 5th. Piper Sandler increased their price objective on shares of Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. UBS Group lifted their target price on shares of Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Argus raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Monday, November 18th. Finally, Loop Capital decreased their price objective on shares of Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.13.

Institutional Trading of Cracker Barrel Old Country Store

A number of large investors have recently added to or reduced their stakes in CBRL. Sterling Capital Management LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 685.9% in the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 487 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Cracker Barrel Old Country Store by 1,601.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 970 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 913 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Cracker Barrel Old Country Store during the fourth quarter valued at approximately $56,000. Public Employees Retirement System of Ohio grew its stake in shares of Cracker Barrel Old Country Store by 22.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock valued at $61,000 after buying an additional 247 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cracker Barrel Old Country Store in the third quarter worth approximately $79,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Price Performance

The stock has a 50 day moving average of $53.73 and a 200-day moving average of $49.20. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $1.01 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 8.36 and a beta of 1.57.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio is 62.11%.

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.