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

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) traded up 8.3% 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. 325,284 shares were traded during mid-day trading, a decline of 59% from the average session volume of 802,511 shares. The stock had previously closed at $42.82.

Other research analysts have also issued reports about the stock. Loop Capital decreased their price target 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, March 7th. Piper Sandler raised their price target on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Citigroup increased their target price on Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, March 7th. StockNews.com raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Finally, Bank of America lifted their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and a consensus price target of $57.13.

Institutional Trading of Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP grew its holdings in Cracker Barrel Old Country Store by 151.9% during the fourth quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator’s stock worth $40,544,000 after acquiring an additional 462,542 shares during the period. Towle & Co. bought a new stake in shares of Cracker Barrel Old Country Store in the 4th quarter worth approximately $13,575,000. Cibc World Market Inc. acquired a new stake in Cracker Barrel Old Country Store during the fourth quarter valued at approximately $11,711,000. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 111,892 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in Cracker Barrel Old Country Store during the third quarter worth approximately $4,498,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

The stock has a market cap of $932.65 million, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 8.36 and a beta of 1.57. The company’s 50-day simple moving average is $53.54 and its 200-day simple moving average is $49.22. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 62.11%.

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.