Cracker Barrel Old Country Store (NASDAQ:CBRL) Reaches New 12-Month High – What’s Next?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s share price reached a new 52-week high on Tuesday. The stock traded as high as $60.33 and last traded at $60.4450, with a volume of 621,232 shares trading hands. The stock had previously closed at $58.74.

Analysts Set New Price Targets

CBRL has been the topic of several recent research reports. Zacks Research raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Piper Sandler reissued a “neutral” rating and set a $51.00 target price on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Citigroup boosted their target price on shares of Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a “sell” rating in a research report on Friday, September 25th. UBS Group upped their price target on shares of Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, September 21st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $48.00 price target on shares of Cracker Barrel Old Country Store in a report on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.86.

Cracker Barrel Old Country Store Trading Up 6.4%

The company has a 50 day moving average of $54.11 and a 200 day moving average of $44.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.24 and a current ratio of 0.58. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 1.46 and a beta of 1.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.82. Cracker Barrel Old Country Store had a net margin of 0.95% and a return on equity of 4.01%. The business had revenue of $849.34 million for the quarter, compared to analyst estimates of $834.57 million. During the same period last year, the company posted $0.74 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that Cracker Barrel Old Country Store, Inc. will post 1.56 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 Thursday, November 12th. Stockholders of record on Friday, October 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, October 16th. Cracker Barrel Old Country Store’s payout ratio is presently 71.43%.

Insider Buying and Selling

In other Cracker Barrel Old Country Store news, SVP Donna Roberts sold 3,500 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $52.08, for a total transaction of $182,280.00. Following the completion of the sale, the senior vice president directly owned 43,702 shares of the company’s stock, valued at approximately $2,276,000.16. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cracker Barrel Old Country Store during the 2nd quarter worth about $11,152,000. Meros Investment Management LP acquired a new position in shares of Cracker Barrel Old Country Store in the second quarter worth $8,492,076. Royal Bank of Canada increased its position in Cracker Barrel Old Country Store by 55.0% in the 1st quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator’s stock worth $4,312,000 after purchasing an additional 54,431 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Cracker Barrel Old Country Store in the second quarter worth approximately $7,444,000. Finally, First Trust Advisors LP lifted its stake in shares of Cracker Barrel Old Country Store by 132.1% in the 1st quarter. First Trust Advisors LP now owns 124,739 shares of the restaurant operator’s stock valued at $3,506,000 after purchasing an additional 70,987 shares during the last quarter. 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 full-service restaurants combined with country-themed retail stores under the Cracker Barrel Old Country Store brand. Its restaurants serve Southern-inspired comfort food, including breakfast items, lunch and dinner entrées, biscuits, desserts and beverages. The retail stores offer home décor, apparel, gifts, seasonal merchandise, toys and other products with a traditional country and Americana theme.

Founded in 1969 by Dan Evins, Cracker Barrel opened its first location in Lebanon, Tennessee.