Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Up 2.7% – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price shot up 2.7% during mid-day trading on Tuesday . The company traded as high as $40.92 and last traded at $39.89. 119,731 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 810,518 shares. The stock had previously closed at $38.82.

Analysts Set New Price Targets

Several research analysts have commented on CBRL shares. StockNews.com upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. Citigroup boosted their price target on Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a “sell” rating in a report on Friday, March 7th. 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 note on Thursday, December 5th. Bank of America lifted their target price on 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. Finally, Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Two research 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.

Cracker Barrel Old Country Store Stock Performance

The company has a fifty day moving average price of $48.12 and a two-hundred day moving average price of $49.39. The company has a market capitalization of $920.13 million, a P/E ratio of 22.83, a PEG ratio of 8.36 and a beta of 1.39. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, April 11th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is currently 62.11%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its position in Cracker Barrel Old Country Store by 22.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 247 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Cracker Barrel Old Country Store by 6.1% in the fourth quarter. Captrust Financial Advisors now owns 6,302 shares of the restaurant operator’s stock valued at $333,000 after buying an additional 361 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cracker Barrel Old Country Store by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,592 shares of the restaurant operator’s stock worth $666,000 after acquiring an additional 417 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Cracker Barrel Old Country Store by 685.9% in the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 487 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Cracker Barrel Old Country Store by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 13,371 shares of the restaurant operator’s stock valued at $707,000 after acquiring an additional 754 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

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.