Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 5.2% – Should You Buy?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price rose 5.2% during mid-day trading on Tuesday . The company traded as high as $51.91 and last traded at $51.91. Approximately 416,507 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 738,341 shares. The stock had previously closed at $49.35.

Wall Street Analysts Forecast Growth

CBRL has been the subject of several recent analyst reports. Piper Sandler upped their price objective on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, December 6th. Truist Financial raised their price objective on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a report on Friday, November 15th. Loop Capital upped their target price on Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Argus raised 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 research note on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store presently has an average rating of “Hold” and an average target price of $57.25.

Cracker Barrel Old Country Store Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 2.07 and a beta of 1.45. The company has a 50 day simple moving average of $48.63 and a 200-day simple moving average of $44.68.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS 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 18.61%. The firm had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. During the same period in the previous year, the firm earned $1.79 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Cracker Barrel Old Country Store, Inc. will post 2.81 EPS for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, January 17th. Cracker Barrel Old Country Store’s payout ratio is 55.25%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at $25,636,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 11.6% in 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 acquiring an additional 111,892 shares during the period. Maverick Capital Ltd. bought a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at $4,498,000. Verition Fund Management LLC boosted its stake in Cracker Barrel Old Country Store by 96.0% in the 3rd 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 period. Finally, Point72 Asset Management L.P. bought a new position in shares of Cracker Barrel Old Country Store in the third quarter valued at approximately $2,526,000. Institutional investors own 96.01% of the company’s stock.

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.