Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Up 11.7% – Still a Buy?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price rose 11.7% on Monday . The company traded as high as $54.06 and last traded at $54.06. Approximately 243,421 shares traded hands during trading, a decline of 67% from the average daily volume of 727,519 shares. The stock had previously closed at $48.41.

Analysts Set New Price Targets

A number of brokerages have weighed in on CBRL. Piper Sandler lifted their price target on shares of Cracker Barrel Old Country Store from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, November 18th. UBS Group lowered their price target on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. Loop Capital dropped their price target on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Truist Financial lifted their price objective on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Finally, StockNews.com upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Two equities research 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, the stock has a consensus rating of “Hold” and a consensus price target of $51.25.

Cracker Barrel Old Country Store Price Performance

The company has a market cap of $1.17 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 1.47 and a beta of 1.42. The company’s 50-day simple moving average is $46.64 and its 200-day simple moving average is $44.48. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.58%. The firm had revenue of $894.39 million for the quarter, compared to analyst estimates of $898.94 million. During the same period in the previous year, the business posted $1.79 earnings per share. Cracker Barrel Old Country Store’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.96 EPS for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, October 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, October 18th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 55.25%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Cracker Barrel Old Country Store by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock worth $190,263,000 after buying an additional 6,804 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cracker Barrel Old Country Store by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after acquiring an additional 111,892 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter worth about $25,636,000. Verition Fund Management LLC lifted its position in shares of Cracker Barrel Old Country Store by 96.0% during the third quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock worth $7,299,000 after purchasing an additional 78,816 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Cracker Barrel Old Country Store by 0.3% in the third quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator’s stock worth $4,536,000 after purchasing an additional 321 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

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.