Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading 7.7% Higher – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares were up 7.7% on Tuesday . The company traded as high as $59.19 and last traded at $58.96. Approximately 106,271 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 739,513 shares. The stock had previously closed at $54.73.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of 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. StockNews.com lowered Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, December 6th. Truist Financial upped their price target on Cracker Barrel Old Country Store from $48.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Argus upgraded Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Monday, November 18th. Finally, Loop Capital raised their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.63.

Cracker Barrel Old Country Store Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 2.28 and a beta of 1.45. The stock has a 50-day simple moving average of $52.97 and a 200-day simple moving average of $46.59.

Cracker Barrel Old Country Store Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, January 17th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 55.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Cracker Barrel Old Country Store during the third quarter valued at approximately $45,000. Public Employees Retirement System of Ohio increased its position in shares of 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 valued at $61,000 after purchasing an additional 247 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter worth $79,000. nVerses Capital LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 26.3% in the third quarter. nVerses Capital LLC now owns 2,400 shares of the restaurant operator’s stock valued at $109,000 after buying an additional 500 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 142.8% in the fourth quarter. GAMMA Investing LLC now owns 2,370 shares of the restaurant operator’s stock valued at $125,000 after buying an additional 1,394 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.

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.