Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 8.3% After Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price traded up 8.3% during trading 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 changed hands 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.

A number of other analysts have also weighed in on CBRL. Bank of America upped their target price on Cracker Barrel Old Country Store from $45.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, December 5th. UBS Group raised their price objective on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Piper Sandler boosted their target price on shares of 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. StockNews.com upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Finally, Citigroup boosted their price objective on shares of Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a “sell” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.13.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in Cracker Barrel Old Country Store during the 3rd quarter worth $2,526,000. Cibc World Market Inc. acquired a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth approximately $11,711,000. Good Life Advisors LLC purchased a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at $404,000. Charles Schwab Investment Management Inc. increased its stake in shares of Cracker Barrel Old Country Store by 11.6% in the 3rd 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 last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new position in shares of Cracker Barrel Old Country Store during the 4th quarter worth $256,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.24 and a current ratio of 0.69. The firm’s 50-day moving average price is $53.73 and its two-hundred day moving average price is $49.20. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 8.36 and a beta of 1.57.

Cracker Barrel Old Country Store Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.21%. Cracker Barrel Old Country Store’s payout ratio is 62.11%.

Cracker Barrel Old Country Store Company Profile

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.