Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL – Get Free Report)’s share price hit a new 52-week high on Tuesday. The company 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.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Piper Sandler reiterated a “neutral” rating and issued a $51.00 price target on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 22nd. Citigroup increased their price target on Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, September 25th. Zacks Research raised Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings downgraded Cracker Barrel Old Country Store from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Cracker Barrel Old Country Store presently has an average rating of “Hold” and an average target price of $50.86.
Read Our Latest Research Report on CBRL
Cracker Barrel Old Country Store Stock Performance
Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Free Report) last released its quarterly earnings data on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.82. The company had revenue of $849.34 million during the quarter, compared to the consensus estimate of $834.57 million. Cracker Barrel Old Country Store had a return on equity of 4.01% and a net margin of 0.95%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities analysts forecast that Cracker Barrel Old Country Store, Inc. will post 1.56 earnings per share for the current fiscal year.
Cracker Barrel Old Country Store Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 71.43%.
Insider Activity at Cracker Barrel Old Country Store
In related news, SVP Donna Roberts sold 3,500 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $52.08, for a total value of $182,280.00. Following the sale, the senior vice president owned 43,702 shares of the company’s stock, valued at $2,276,000.16. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.40% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. 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 bought a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter worth about $8,492,076. Bank of New York Mellon Corp bought a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter worth about $7,444,000. Empowered Funds LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at about $4,854,000. 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 period. 96.01% of the stock is owned by institutional investors.
About Cracker Barrel Old Country Store
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.
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