Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading 8.7% Higher – Here’s What Happened

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) were up 8.7% during mid-day trading on Wednesday . The company traded as high as $35.67 and last traded at $36.2150. Approximately 381,986 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,229,833 shares. The stock had previously closed at $33.31.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 19th. Citigroup increased their target price on shares of Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.75.

Cracker Barrel Old Country Store Stock Up 4.3%

The stock’s 50-day moving average price is $29.49 and its two-hundred day moving average price is $29.54. The stock has a market capitalization of $776.33 million, a P/E ratio of -192.85 and a beta of 1.29. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.35. The company had revenue of $874.82 million for the quarter, compared to analysts’ expectations of $862.89 million. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. Cracker Barrel Old Country Store’s revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. As a group, research analysts expect that Cracker Barrel Old Country Store, Inc. will post -1.07 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Friday, April 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, April 10th. Cracker Barrel Old Country Store’s dividend payout ratio is presently -555.56%.

Institutional Trading of Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of 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 valued at $50,000 after buying an additional 321 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Cracker Barrel Old Country Store by 16.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Cracker Barrel Old Country Store by 7.2% during the 3rd quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock valued at $276,000 after buying an additional 419 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Cracker Barrel Old Country Store by 4.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the restaurant operator’s stock valued at $529,000 after buying an additional 500 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Cracker Barrel Old Country Store by 8.4% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock valued at $409,000 after buying an additional 519 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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.