Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors purchased 2,842 call options on the stock. This is an increase of 45% compared to the average daily volume of 1,956 call options.
Hedge Funds Weigh In On Cracker Barrel Old Country Store
Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Cracker Barrel Old Country Store in the third quarter valued at approximately $26,000. Axiom Investment Management LLC acquired a new stake in Cracker Barrel Old Country Store in the 1st quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Cracker Barrel Old Country Store during the fourth quarter worth about $35,000. Canada Pension Plan Investment Board purchased a new stake in shares of Cracker Barrel Old Country Store in the second quarter worth about $37,000. Finally, PNC Financial Services Group Inc. lifted its position in Cracker Barrel Old Country Store by 22.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 321 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Citigroup upped their target price on Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the company a “sell” rating in a research note on Wednesday, June 10th. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. Weiss Ratings raised shares of Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, Argus upped their target price on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and an average target price of $42.14.
Cracker Barrel Old Country Store Trading Up 7.0%
Shares of NASDAQ CBRL traded up $3.46 on Friday, reaching $52.97. 341,063 shares of the company traded hands, compared to its average volume of 1,300,611. The stock has a market capitalization of $1.18 billion, a PE ratio of 45.43 and a beta of 1.20. Cracker Barrel Old Country Store has a fifty-two week low of $24.85 and a fifty-two week high of $71.93. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $39.35 and a 200 day moving average of $33.17.
Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last released its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74. The firm had revenue of $797.37 million during the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. Cracker Barrel Old Country Store’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. On average, equities research analysts forecast that Cracker Barrel Old Country Store will post -0.83 earnings per share for the current fiscal year.
Cracker Barrel Old Country Store Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 86.21%.
About Cracker Barrel Old Country Store
Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.
The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.
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