Cracker Barrel Old Country Store (NASDAQ:CBRL) Sets New 52-Week High – Still a Buy?

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) 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. The stock had previously closed at $58.74.

Analyst Upgrades and Downgrades

CBRL has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Citigroup raised their price objective on shares of Cracker Barrel Old Country Store from $42.00 to $44.00 and gave the stock a “sell” rating in a research report on Friday, September 25th. Bank of America reaffirmed an “underperform” rating and set a $48.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 24th. Weiss Ratings lowered shares of Cracker Barrel Old Country Store from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $51.00 target price on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and an average price target of $50.86.

Cracker Barrel Old Country Store Stock Up 3.7%

The firm’s fifty day moving average price is $53.95 and its two-hundred day moving average price is $44.40. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.58 and a quick ratio of 0.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Wednesday, September 23rd. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.82. The company had revenue of $849.34 million for the quarter, compared to analysts’ expectations of $834.57 million. Cracker Barrel Old Country Store had a net margin of 0.95% and a return on equity of 4.01%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. Sell-side 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 company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Friday, October 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 16th. Cracker Barrel Old Country Store’s dividend payout ratio is 71.43%.

Insiders Place Their Bets

In other Cracker Barrel Old Country Store news, SVP Donna Roberts sold 3,500 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $52.08, for a total value of $182,280.00. Following the transaction, the senior vice president owned 43,702 shares in the company, valued at approximately $2,276,000.16. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cracker Barrel Old Country Store during the second quarter worth approximately $11,152,000. Meros Investment Management LP bought a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter worth $8,492,076. Royal Bank of Canada lifted its holdings in shares of Cracker Barrel Old Country Store by 55.0% in the 1st quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator’s stock worth $4,312,000 after purchasing an additional 54,431 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Cracker Barrel Old Country Store in the 2nd quarter valued at $7,444,000. Finally, First Trust Advisors LP grew its position in 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. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

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.