Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up Following Earnings Beat

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $40.29, but opened at $50.96. Cracker Barrel Old Country Store shares last traded at $48.85, with a volume of 538,612 shares traded.

The restaurant operator reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.38. Cracker Barrel Old Country Store had a return on equity of 18.61% and a net margin of 1.15%.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors 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 yield of 2.16%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 55.25%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group boosted their price target on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Bank of America increased their target price on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price target on Cracker Barrel Old Country Store from $46.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Loop Capital increased their price objective on shares of 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, Truist Financial raised their target price on shares of Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store presently has an average rating of “Hold” and a consensus target price of $57.63.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently made changes to their positions in CBRL. Vanguard Group Inc. boosted its stake in Cracker Barrel Old Country Store by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,613,358 shares of the restaurant operator’s stock valued at $138,142,000 after acquiring an additional 13,305 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cracker Barrel Old Country Store by 9.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,456 shares of the restaurant operator’s stock valued at $62,452,000 after buying an additional 106,440 shares during the last quarter. Marshall Wace LLP grew its position in shares of Cracker Barrel Old Country Store by 151.9% in the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cracker Barrel Old Country Store by 2.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 648,342 shares of the restaurant operator’s stock valued at $34,271,000 after acquiring an additional 16,333 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Cracker Barrel Old Country Store by 16.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 351,539 shares of the restaurant operator’s stock valued at $18,584,000 after acquiring an additional 50,905 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Price Performance

The stock has a market capitalization of $1.03 billion, a P/E ratio of 26.58, a PEG ratio of 8.36 and a beta of 1.48. The company has a 50 day moving average of $54.55 and a 200-day moving average of $49.18. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

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.